Corporation Switch User Manual

Integrating with Oracle Internal Controls Manager 22-1

Integrating with Oracle Internal Controls

Manager

Overview

As much as Sarbanes-Oxley has helped to restore investor confidence, the law continues

to weigh down public companies. The costs associated with compliance are significant,

and the time and effort required are keeping some finance executives away from more

strategic initiatives. Companies will need to build reliable and repeatable compliance

processes if they want to create a sustainable approach to compliance. Oracle Internal

Controls Manager (ICM) enables companies to document, test, monitor, and certify

ongoing compliance with Sarbanes-Oxley Section 404. Internal Controls Manager

provides the vital link between the business process and the financial statements. The

integration between Internal Controls Manager and Financial Consolidation Hub allows

companies to review and assess the adequacy of controls in their business processes.

For more information on Internal Controls Manager, see the Oracle Internal Controls

Manager Implementation Guide.

Setup for Integration with Internal Controls Manager

The integration between Internal Controls Manger and Financial Consolidation Hub

lets you certify the consolidation results of a consolidation hierarchy. To setup

integration, you must perform the following tasks:

Initial setup: This involves setting relevant environment options for communication

between Financial Consolidation Hub and Internal Controls Manager.

2. Create auditable units: Auditable units serve as certification points for your entities.

Enable certification for a consolidation hierarchy: You can perform Internal

Controls Manager certification against the hierarchy you select in Financial

Consolidation Hub.