BlackLine Systems Unveils COSO Jumpstart Solution to Help Companies Adopt Updated Internal Controls Framework by Year-End Deadline
Cox Communications, UHY Advisors to headline webinar on how BlackLine can help companies comply while improving internal controls, increasing governance, mitigating risk
LOS ANGELES – June 10, 2014 – Enterprise-class financial software company BlackLine Systems has unveiled a ‘COSO Jumpstart Solution’ to help companies comply with new guidelines set forth in the updated 2013 COSO Internal Control—Integrated Framework.
In 1992, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released the original version of the COSO Framework which gained broad acceptance and is widely used around the world as the de facto standard for designing, implementing and conducting internal controls and assessing the effectiveness of those controls within large organizations. Internal controls guidelines in the updated Framework will supersede their predecessors in December of this year.
The BlackLine COSO Jumpstart Solution, complete with a customized COSO template, will feature import files, specialized templates, pre-populated check lists including Auditor tasks and best practices guidelines designed to help companies implement the updated Framework before the old guidelines expire.
To help clients and prospects get ahead of the game and assist them with their requirements in bringing policies and procedures into alignment with the new Framework, BlackLine is offering a special promotion to the first 100 companies that sign up to use the COSO Jumpstart Solution. The special promotion will include complimentary implementation along with six months of complimentary use of the Task Management module in BlackLine’s flagship Financial Close Suite.
“Sometimes when new rules and standards go into effect, the hardest thing for companies is figuring out how and where to start to bring current controls, processes and procedures up to meet the new requirements,” Therese Tucker, CEO, BlackLine Systems, said. “Within the BlackLine Tasks module, we’re basically providing all the tools companies need to get started – organizing the work that needs to be done by providing simple, easy-to-follow instructions and automated workflow.”
Long-time BlackLine client company Cox Communications and Certified Implementation Partner firm UHY Advisors will join BlackLine Systems for a webinar on Thursday, June 12, entitled “Clearing up the COSO Confusion: How to Adopt the New Framework,” showcasing how the Task Management module of the BlackLine Financial Close Suite can help companies implement the new guidelines in the short-term and ultimately improve internal controls, increase governance and mitigate risk for the long haul.
- Susan Parcells, Director of Finance Transformation, BlackLine Systems
- Brad Baer, Principal, UHY Advisors
- David Barton, Managing Director, UHY Advisors
- Tammie Coley, Executive Director, Enterprise Accounting and Financial Systems, Cox Communications
“The update to the COSO Framework is important because it will begin to force companies to assess their existing internal controls and, hopefully, improve governance and compliance going forward,” added Ms. Tucker.
About BlackLine Systems
BlackLine Systems was the first to develop and offer a commercially available Balance Sheet Account Reconciliation solution. An experienced provider of software to companies from the Fortune 100 to beyond the Fortune 1,000, BlackLine provides quick-to-implement, scalable and easy-to-use applications that automate the entire financial close process to help improve financial controls for companies of all sizes. With more than 100,000 users in over 100 countries, BlackLine software applications complement existing Enterprise Performance Management (EPM), Governance Risk and Compliance (GRC) and Enterprise Resource Planning (ERP) systems.
Though ERP-agnostic, the BlackLine Financial Close Suite for SAP® Solutions is an SAP-endorsed business solution – joining the ranks of fewer than 40 other software offerings globally that are endorsed by the enterprise application software leader. BlackLine also is an SAP Gold Partner.
BlackLine offers clients its enterprise-class financial software in a simple and secure SaaS (Software-as-a-Service) platform. With a proven track record and a commitment to customer success, BlackLine seeks to reduce the burden the financial close places on accounting and finance professionals.
BlackLine headquarters are in Los Angeles, with offices in Atlanta, Chicago, London, Melbourne, New York City and Sydney to serve the company’s growing global client base. For more information, please visit www.blackline.com.