What is SOD ? Segregation of Duties Explained - SYDECON
Welcome to SYDECON. We care for your company's compliance with MDM Enterprise in the Cloud! You'll find the full explanation in text form here in the description below the links. #sod #sydecon Visit us on: Our webpage: www.sydecon.de Or write an e-mail: info@sydecon.de Call on the phone: +49 (89) 41 41 749 - 0 Explain your issue to us and together we will find the solution that best suits your company's interest! SYDECON offers more than just software. We implement MDM Enterprise Suite for you, but we do not leave you alone afterwards. Our trained consultants and expert software engineers are always available for you, with gumption and competence. LinkedIn: https://www.linkedin.com/company/1996607 Twitter: https://twitter.com/sydecon Xing: https://www.xing.com/companies/sydecongmbh Let’s suppose your company runs branch offices or subsidiaries in different locations or even countries around the world. Widespread organizations can be difficult to handle. So, rising income and expenditure bills determine the need for a certain form of risk management. The internal processes of a business call for shared responsibilities. If we suppose, that one person is responsible for every key, code and lock required for a process, we must acknowledge the perspective of higher risk. Emotion, human error and disinformation are far more likely to alter the outcome of financial transactions. And also, more difficult to correct afterwards. With the separation of critical functions fraud and error risks become calculable and therefore manageable. Preventing unilateral actions from occurring in key processes helps to reduce irreversible affects that are financially intolerable for the company. This is called Segregation of Duties – short SOD. By default, permissions and roles within the company are separated. Intersections between process initiators and auditors must not exist to guarantee the four-eye-principle. This is checked on a regular basis. But it is not very flexible. Assigning fixed roles can lead to rigidity and confusion in financial transactions – especially with many different departments involved. Ultimately delays in procedures will cost the company economically. The solution: A workflow-system that defines not roles but stages of the process of financial transacting. Employees are not assigned to a fixed role anymore but can take responsibility of any stage of the process they need to. With the exception that one employee is not allowed to complete several tasks by himself. As a consequence an employee is allowed to initiate a process as well as audit one but can never take responsibility of both these tasks for the same single process. That way flexibility is guaranteed and the four-eye-principle is maintained. A supportive IT-system can help to define a company-customized workflow as well as keep the process stages separated at all times. While basic SOD seems a simple principle, not properly following it can lead to disastrous consequences. Implementing the featured version of SOD within your organization is a key aspect of managing risks. And it can help you to win over trust from your clients as well as customer’s businesses.youtube.com
