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Compliance for control

Compliance for control. Rob H. van Nie June 7, 2007. Agenda. About Océ Sarbanes Oxley Act 2002: Sections 302 & 404 Business Cycles Diamond Results Benefits Going Dutch. About Océ. History: pharmacy background, colloring margarine like butter

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Compliance for control

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  1. Compliance for control Rob H. van Nie June 7, 2007

  2. Agenda • About Océ • Sarbanes Oxley Act 2002: Sections 302 & 404 • Business Cycles • Diamond • Results • Benefits • Going Dutch

  3. About Océ • History: pharmacy background, colloring margarine like butter • Océ enables its customers to manage their documents efficiently and effectively by offering innovative print and document management products and services for professional environments • Venlo based, own establishments in more than 30 countries, in a further 60 countries prominent distributors • 24.000 employees, total revenues > EUR 3.1 billion

  4. About Océ • Entire value chain of printing systems: development, manufacturing, sales, financing, service of hardware and software • Printers for mid and high volume, A4 and wide format, black and white and colour* Océ Varioprint 6250: full duplex printer, 250A4 prints two sided per minute* Océ Arizona 250 GT: UV flatbed and roll-to-roll colour printer wide format • Innovative, beyond the ordinary, systematically focus on the future

  5. Océ Arizona 250 GT

  6. Sarbanes Oxley Act 2002 • Driver for systematical approach of risk assessment and control • Section 302:* business risk self assessment by local management* corporate questionnaire* consolidation on group level* Disclosure Committee* Risk paragraph in annual report and Form 20F

  7. Sarbanes Oxley Act 2002 Section 404 • Cycles* 13 companies ( “Tier 1”): Value Chain approach: MCM, BS, IS, MSP, AR, M&L, AP, HR, GL, FR* 4 data centers and centralised IT management: GITC* few companies (“Tier 2” and “Tier 3”): GL and FR* all companies world wide: ELC, FRA

  8. Sarbanes Oxley Act 2002 Approach Group consolid Internal Auditor Management assessment Monitoring Sample testing External Auditor Managers review Control execution

  9. Sarbanes Oxley Act 2002 Results • 2 unqualified opinions (control effectiveness and effectiveness of management assessment) • few significant deficiencies

  10. Control Benefits • Control awareness, bottom up • Seggregation of duties, including ownership of system access rights • Understanding automated controls • Documenting control execution and management review • Improving customer services (tender process, order process, invoicing process) • Process harmonisation • Business - IT alignment

  11. Going Dutch

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