<Insert Picture Here> Financial Audit Scoping Tool Blueprint for Oracle GRC Applications

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1 <Insert Picture Here> Financial Audit Scoping Tool Blueprint for Oracle GRC Applications Implement Audit Standard 5 (AS5) scoping to streamline financial reporting compliance

2 Agenda Financial Audit Scoping Tool Blueprint Overview Business Challenges Solution Details Challenges, Capabilities & Benefits Process Flows Capabilities Details Related Requirements Coverage Oracle Blueprints for Oracle GRC Applications

3 Solution Summary Blueprint purpose: Integrate Oracle Enterprise GRC Manager with Hyperion Financial Management to allow auditors and managers to evaluate business process risk based on its impact on financial balances Blueprint benefit: Helps customers implement Audit Standard 5 (AS5) scoping to streamline financial reporting compliance Reduce external audit fees by providing a methodical, rule-based selection criteria that aligns financial audit activities with controls Blueprint items: Auditor Workbench with robust, integrated controls selection based on accounts, organizations, financial balances and risk-based criteria Pre-built analytics of in-scope controls for assessments Automated creation and initiation of EGRCM Controls Assessments

4 Agenda Financial Audit Scoping Tool Blueprint Overview Business Challenges Solution Details Challenges, Capabilities & Benefits Process Flows Capabilities Details Related Requirements Coverage Oracle Blueprints for Oracle GRC Applications

5 CFOs struggle to improve governance of their financial processes Percentage of Internal Control Weaknesses by Category Other 6% Personnel Issues 17% Significant Account Level 40% Financial Close and Controls 37% Source: Market Reactions to the Disclosure of Internal Control Weaknesses and to the Characteristics of those Weaknesses Under Section 302 o the Sarbanes Oxley Act Of 2002, July 2007 SEC fact: Auditing Standard No. 5 (AS5) directs auditors to focus on those areas that present the highest risk, such as the financial statement close process and controls designed to prevent fraud by management. Source: SEC Approves PCAOB Auditing Standard No. 5, July 2007

6 Frequency and Complexity of Transaction

7 Best Practices to Reduce Level of Effort Top-Down, Risk-Based Approach for Identifying Significant Accounts and Key Controls to Audit Focuses Testing on Risk Exposure rather than Coverage Reduces Control Testing Audit Costs Fine Tunes the Definitions of Material Weakness and Significant Deficiency Guidance is Designed to Facilitate more Efficient External Auditing including Scaling of the Audit for the Size and Complexity of the Company Removes Requirements to Evaluate Management s Process 7

8 Agenda Financial Audit Scoping Tool Blueprint Overview Business Challenges Solution Details Challenges, Capabilities & Benefits Process Flows Capabilities Details Related Requirements Coverage Oracle Blueprints for Oracle GRC Applications

9 GRC Fundamental to Financial Close Compliance Close Ledger Close Data Assurance Consolidation Internal Managemen t Reporting External Financial Reporting Filing Documentatio n Financial Processes, Risks & Controls Assessment Control Effectiveness Orchestration Misstatement Risk Modeling Testing Process-Based Audit Scoping Accounts-Based Audit Scoping Risk-Based Audit Scoping Investigation Suspicious Financial Transaction Analysis & Monitoring Remediation Risk Mitigation Planning, Tracking and Evidencing Certification Internal Controls over Financial Reporting 302 Certification

10 Solution Details Key Capabilities: A unified workbench that brings HFM and EGRCM data together into a single workspace Consolidated significant accounts in HFM that are mapped to controls in EGRCM are readily identified, as well as associated risks Controls that are identified as in-scope are easily assigned to testers in an assessment plan Executive dashboards with the financial coverage of the assessment plan, as well as the type and nature of the controls that are in scope EGRCM Capabilities: EGRCM enables customers to manage GRC-related business processes across the enterprise and HFM enables customers to centralize financial reporting and enterprise consolidations.

11 Customer Challenges & Benefits Summary Customer Challenge Reducing the cost of controls assessments Integrating Financial close data with Controls data Understanding whether the in-scope controls as mitigating the most relevant risks Designing a controls assessment that is repeatable and applies consistent decision criteria Designing a controls assessment that is composed of a certain controls properties such as costs, control methods and control types Automatically produce a controls assessment plan based on an iterative, robust selection criteria Solution Benefit FAST integrates with the EGRCM controls component. Using FAST auditors can easily perform a top-down approach to deciding which controls should be inscope for any given assessment FAST integrates with Hyperion Financial Management. It includes a interactive workbench that shows users how many controls are associated with monitored reported financial amounts, thereby easily identify controls for significantly large accounts FAST integrates with the EGCRM risk component. Evaluating controls by their related risks helps the auditor understand management s evaluation of the significance of any given risk and the likelihood and impact of any given risk. FAST enables an iterative controls scoping processes based on multiple criteria. Once satisfied with the composition of the controls assessment, the inscope controls and can export, reloaded and modified for the next audit cycle. FAST includes tables and graphical analysis that intuitively displays the composition of the in-scope controls to achieve the proper coverage, cost and make up of key controls, automated and manual controls and detective and preventive controls FAST will programmatically setup a Controls Assessment plan that includes multiple assessment activities, controls and steps that are managed and monitored to completion in EGRCM. 11

12 Capability Summary Solution Capability Value Driver Stakeholder Integrates with Hyperion Financial Management Identify controls by Significant Accounts Incorporates financial account balances and organizational structure Internal Audit Manager SOX Program Office (PMO) Financial Consolidations Manager Financial IT Admin Integrates with Enterprise GRC Manager Captures Exec Mgt as well as Line of Business and Audit s evaluation of risk, the level or risk. Identify controls by multiple perspectives and business processes Internal Audit Manager SOX PMO IT Admin Single workbench view of Financial, Risk and Controls data and information Iteratively controls scoping and filtering Automatic generation of EGRCM Controls Assessment Plans Ease of use 360-view across Functional Areas 360-view across Business Processes Rules-based criteria when selecting in-scope controls Visibility and insight into controls coverage Increased effectiveness of controls assessment by focusing on the right controls Closed-loop, top-down assessment process Internal Audit Manager SOX PMO IT Admin Internal Audit Manager SOX PMO IT Admin Executive Management Line of Business Manager Internal Audit / SOX PMO 12

13 Business Process EGRCM Administrator Setup HFM Connection EGRCM Risk Manager EGRCM Risk Manager EGRCM Risk Analyst Create POV Query controls using FAST workbench Validate HFM data Validate Coverage Complete Assessment Tasks Tie controls to HFM perspectives Create Assessment 1 - Assessment Template 4 - Template Activities 2 - Delegation Models 1 - Object Class 1 - UDTs 6 - Hyperion Perspective Items 2 - Perspective Trees 6 Preconfigured Charts EGRCM Risk Manager Report on Compliance

14 Establish a systematic process for risk management Assess multiple risk classes and monitor overall risk health Assess multiple risk types across lines of business Leverage flexible quantitative and qualitative analysis models Monitor risks to key objectives and performance indicators Manage incidents and track losses and recoveries Risk Management Process Establish Context Analyze Risks Evaluate Significance Treat Risks Monitor Key Indicators

15 Key Mapped Dimensions Hyperion Financial Management Account Dim Entity Dim Fin Balances Period Scenario View Risk-based Controls Assessments Account Map Org. Map Bus Process Risk Control Assessment Enterprise GRC Manager

16 Blueprint Requirements Coverage Supports Audit Standard 5 guidance for top-down controls assessment Controls scoping by Financial Account, significant account Controls scoping by Risk level, including likelihood and impact Controls scoping by Risk evaluation, including risk tolerance and rating Out of Box - Not Out of Box - Controls scoping by organization, management and legal entity rollup Control scoping by Financial Balance thresholds, percent of total Iterative selection of controls Ad-hoc selection of controls Ability to save in-scope selection Ability to apply last assessment scope and modify as needed Graphical, analytical view of controls coverage and composition of inscope controls Filter controls explicitly by Business Process Support for all EGRCM Information Models Support for other Assessment types (e.g., Risk Assessment) Support for any data source, General Ledger

17 Agenda Financial Audit Scoping Tool Blueprint Overview Business Challenges Solution Details Challenges, Capabilities & Benefits Process Flows Capabilities Details Related Requirements Coverage Oracle Blueprints for Oracle GRC Applications

18 What are Blueprints? Best Practices Standardized techniques, methods, & processes, based on business practice analysis across multiple organizations. Example: Centralized Health & Safety Incident Management Content Pre-defined modules, policies, reports, models, attributes, lookups, semantic business objects, physical mappings. Example: Pre-built policies to detect SOD-related fraud in Hyperion Financial Mgmt Integrations Out-of-the-box interoperability with critical business systems delivering best practices across entire business process. Example: Connector to Hyperion FM for accounts-based controls assessment scoping

19 How do Blueprints fit into the GRC Platform? Functional Enterprise GRC Platform Extensibility Blueprints leverage the Oracle GRC Platform Configurability and Extensibility Framework Components GRCI GRCM GRCC-A GRCC-C GRCC-T GRCC-P 11g FMW Framework WEBCAT MODULES MODELS SDD & SDM PATTERNS RULES ADF & SOA Health, Safety and Environment HSE Blueprint includes: 15 pre-defined Types 25 pre-defined Classes 5 pre-defined Perspectives 153 pre-defined Attributes 18 pre-defined Lookup Values 20 pre-defined Graphs 4 pre-defined Risk Context Models 13 pre-defined Survey Questions1 Standalone ADF-based configurable incident capture page

20 How are Blueprints Different from Products? Freely available Free, open & extensible Free, self-paced training Free, community based support

21 Blueprints Ecosystem Blueprints Enterprise GRC Platform Partners Increase ROI with one platform for all GRC Initiatives Share new blueprints in an online community Collaborate online on extending existing blueprints Oracle Customers

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