A large healthcare organization in the Pacific Northwest faced challenges after an internal Sarbanes-Oxley (SOX) audit found process, segregation of duties, and control issues. The Wilshire Group came in to assess the problems, develop a comprehensive set of recommendations, and assist with planning and execution.
The audit focused on the Data Control (cash/deposit posting) and General Accounting departments, the reconciliation of cash received in the bank, and the posting activities across the accounting and AR systems.
The assessment phase of the project included meeting with department staff from Data Control, General Accounting, and IT support to understand the daily operations in each area and how those activities impact the reconciliation process. Once the initial data gathering was complete The Wilshire Group reviewed, updated, and created new training and workflow documentation to enable staff to be more consistent and compliant in their daily activities. Additionally, we created reporting tools and project management tools to facilitate sustained improvement.
In just 12 weeks, we were able to address all audit issues through corrective workflow action, improved tools and system configuration, and long-term upgrade/optimization areas of focus. Contact us at email@example.com to see how we can help your organization.