Law 262 (n.262/2005) has made accounting procedures and administrative control activities more stringent for public companies in Italy. Specifically, this legislation affects the work and responsibilities of auditors, supervisory boards and management control committees.

Tagetik 4.0 for EGRC supports the complete process of collecting and managing information. This makes it easier for companies to meet the requirements of Law 262/2005 including:

• Certifying financial data and accounts for individual legal entities and the group as a whole
• Managing the periodic scoping process, by the user defining , the materiality threshold of the businesses and accounts affected by the controls provided
• Managing the risks of producing financial information for each stage of the process
• Defining procedures to control individual risks
• Selecting a test sample and documenting the results for control purposes
• Defining and executing counteractions
• Producing reports for various internal and external stakeholders

Tagetik 4.0 for EGRC tracks the complete history of additions and changes to ensure full traceability during audits. Users can also leverage this information to make comparisons and analyze trends for different periods.

Companies that use Tagetik 4.0 to fulfill the requirements of Law 262 or other governance, risk and compliance activities profit from:

• Maximum flexibility to respond to changing national regulations and requirements
• Fewer errors caused by fragmented systems and manual tasks
• Flexibility in customizing the control model and risk management activities for each organization
• Full control of all organizational levels through built-in workflow tools
• Accurate historicizing and documentation of information related to control procedures
• Full traceability and transparency for all control processes
• Accurate reporting and full compliance in record speed
• Optional integrated risk management model

» Learn About Panaria Group's Law 262 project

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