Vernalis Systems - Pre-app Pro
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 Pre-app Pro is a powerful and effective tool to ensure that auditors only provide services that are in accordance with Audit Committee policies and permissible under relevant laws and regulations. Pre-app Pro has been designed for collaborative use by both companies and their auditors. |
| Pre-app Pro - the comprehensive solution for managing auditor independence |
 An intuitive secure application, Pre-app Pro provides reliable pre-approval of auditor's services:
a robust method for collecting all service proposals
a streamlined facility for managing, reviewing and approving proposals
on-line assistance to the persons responsible for approving service, including:
- tailored guidance on the Audit Committee policies
- guidance on laws and regulations
- automatic warnings if a request may be prohibited
- remaining balance of pre-approved financial limits
at-a-glance summary of approvals by status for each service category and subsidiary
a robust index of requests by all key information, including discussion tracking and decision rationale
real-time reports for the Audit Committee, management and auditors
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| Pre-app Pro - the cost effective solution |
| Pre-app Pro is a low cost, high quality solution that saves time, money and effort - in a secure and trusted environment. It is a simple yet powerful application, both easy to implement and flexible enough to keep pace with a changing regulatory environment. The payback period will be less than two months for most organisations. |
| Pre-app Pro - Is your business Sarbanes-Oxley Act compliant without it? |
In recent years, corporate governance and auditor independence have become areas of increasing focus for companies, shareholders and auditors alike, particularly in light of the US Sarbanes-Oxley Act of 2002 and the UK Companies (Audit, Investigations and Community Enterprise) Act of 2004. The laws intend to improve public confidence in financial markets by ensuring auditor independence. Directors must adhere to strict requirements regarding the nature of services provided to a company by its auditor. To comply with these laws, both the auditor and the company must be fully aware of service proposal activity and must insure that any prohibited services are prevented from commencing.
There are already a number of examples of auditors of major companies falling foul of these regulations. Major disruptions occurred when accounting firms were forced to resign as a company's auditors.
Pre-app Pro has been designed specifically to reduce the risks associated with independence compliance and to make this task as simple as possible.
Furthermore, Pre-app Pro provides a Sarbanes-Oxley Act Section 404 compliant process and control framework for ensuring accurate reporting of auditor remuneration by service type, a material disclosure in the accounts of most companies.
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| Pre-app Pro - effective, reliable Audit Committee reporting |
Both graphical and tabular reports are available for on demand display of submission information.
Tabular reports can be exported to Excel for further analysis and ease of distribution.
The ratio of audit to non-audit services is also available at a glance to monitor this key measure that is often used by Audit Committees for peer benchmarking. |
| Pre-app Pro - find out more |
| For more information on Pre-app Pro please simply contact your nearest Vernalis Systems Office. |
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