Adonis by Ripple Operations and SOX Compliance
Sarbanes-Oxley Act (SOX) Compliance
Companies listed on the NYSE, Euronext and other major stock markets, need to prove compliance with SOX regulations to ensure the accuracy and reliability of financial disclosures. This includes to implement robust internal controls over financial reporting, like from the Payroll System. Their systems need to be managed and maintained to to prevent and detect fraud, ensuring the protection of investor interests. Adonis has been working with market leading companies such as Teekay Inc. and RCL to implement the necessary tables and tools to achieve compliance with the SOX requirements.
Dual Security
The system administrator will configure security levels and user access with Adonis Control Centre related to the Organization Structure setup. With these configuration tools, processes and work flow are defined in accordance with the company’s security matrix. In this way, “Dual Security” can be set, preventing the same user to create, add and modify payroll data from processing payments without intervention of another company role.
Access control can be set down to field level with no access, read only and full access within all applicable functions, menus / routines and modules of the application. Users’ access control are by Security Levels.
More information on Adonis Control Centre in this link.
Reports Log and Export / Import Control
The possibility to tamper with Payroll Reports is limited through silent filing of .pdf copies of all critical reports (Payment lists, Accounting vouchers etc.), stamped with a unique report identification number. With this facility it is always possible to go back and find out what the original report looked like. The same functionality is implemented in all critical import and export routines, where each file being imported / exported will be stored in a log table inside the database for audit purposes. Together
Login Sessions Recording
Records of all users’ login sessions are recorded in a separate database table containing login time, user id, login name, logout time etc. All record level changes in the application will be recorded against the user login session. It is not possible to access the system in parallel using the same user id.
Payroll Execution Log
A Payroll Execution log is recording all critical payroll-related processes, along with information about who did what, and when.
Change Tracking
The system will track all single field data changes made by an end-user through an Audit Trail. All vital data fields being changed will be saved to an audit table, containing the old value, the new value and all necessary information of when a change was done and the user Id. It may e.g. prevent fraud on Seniority information and other factors impacting payroll calculations.
Equally important is our detailed Payroll History, which logs every element included in payroll transactions by period and year for as long as the system is in use, allowing you to drill down into any single item, Adonis Payroll offers administrators an outstanding ability to review all payroll activity and uncover any attempts at tampering or fraud.
Centralized Auditing
In an enterprise with database satellites, e.g. oceangoing vessels, all the audit tables from the remote sites and vessels are replicated via the Adonis Replicator to the central database. This allows the head office to track also changes made in remote databases.