Continuous Monitoring Platform

Continuous Monitoring Platform gives real-time insights into processes and procedures

Stakeholders require organizations to be in control and have a better grip on core risks. Organizational functions such as Finance and Risk & Compliance, however, are under pressure following increasing compliance and documentation requirements. They could (and would like to) add more value to their organizations by shifting their focus to improving existing processes and insights into risk areas. The Continuous Monitoring Platform enables organizations to do so.

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How does Continuous Monitoring work?

The Continuous Monitoring Platform automatically analyses processes, transaction and master data, allowing for real-time insights in the organizational control. Customized dashboards highlight the exceptions to the standard and thus enable swift and thorough action. Exceptions will be handled by the business responsible via customized workflows, making compliance part of the day-to-day business.

Continuous Monitoring Platform eases the pressure on organizations

The continuous monitoring of systems and applications enables organizations to:

  • meet compliance and documentation requirements much easier, allowing responsible departments to focus on generating real value for the organization;
  • have better risk control as real-time insights are available;
  • increase the quality of their controls. The Continuous Monitoring Platform does not rely on samples, but analyzes the full data populations. Exceptions can be identified in real-time and be dealt with in a swift and effective manner (instead of the current practice of corrective actions that take weeks or months after the actual exception has occurred);
  • leverage the information generated by the Continuous Monitoring Platform to external stakeholders or auditors. This information can be used, for example, in processes around certifications (e.g. SOC1, ISO 270010), financial auditing and horizontal monitoring by tax authorities.

Continuous Finance Monitoring

  • Automated testing of IT-controls
  • Monitoring of relevant business processes, master data, and system settings

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Automated SOx testing

  • Real-time insights in SOx control framework
  • Use reporting for external stakeholders

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Automated Security & Privacy Testing

Monitoring for the purpose of:

  • GDPR Trust Services (assurance and certification)
  • ISO 27001:2013
  • DigiD, BIG, BIR, NEN7510

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Automated Internal Audit

  • Automated internal audit procedures
  • Follow-up and remediation of exceptions based on work flows

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Continuous Tax Monitoring

  • Real-time tax insights
  • Being in control in a data-driven way
  • Monitoring data quality for internal control and external reporting requirements

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Third Party Assurance

  • Automated real-time third party assurance
  • SOC 1 (ISAE 3402) and SOC 2

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The continuous monitoring platform leverages existing systems and applications

The Continuous Monitoring Platform integrates different existing applications, systems and data sources into one platform. The Continuous Monitoring Platform is compatible with virtually all systems, applications and data sources.

The implementation of the Continuous Monitoring Platform is easily done in five steps

Analyse as is

  • Gain insight in current relevant risks, processes and controls.
  • Determine on the areas that need to be monitored continuously.
  • Update existing controls and/or define new controls.

Set up monitoring

  • Set up of the Continuous Monitoring platform.
  • Carry out tests.
  • Training application administrators and managers.

Handover

  • User acceptance testing. 
  • Commissioning the Continuous Monitoring Platform by the organisation.

Execute monitoring

  • Start monitoring and follow up on exceptions.

Continuous improvement

  • Use the experience and results of continuous monitoring to define or optimize (new) controls.

Contact us

Rudi Selhorst

Director, PwC Netherlands

Tel: +31 (0)88 792 19 01

Frank Lubbers

Manager, PwC Netherlands

Tel: +31 (0)88 792 33 49

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