Business cases
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Lafarge
An NYSE-listed company, Lafarge is the world's largest cement company and a global leader in building materials. Operating in 75 countries, with 75,000 employees, Lafarge has an annual turnover of some €14 billion.
Implementation objectives:
- To ensure compliance with all relevant internal control regulations, including Sarbanes-Oxley.
- To improve business process efficiency and increase the accountability of management for internal control
Criteria for selecting RVR Internal Control:
- PCAOB (Public Company Accounting Oversight Board) methodology compliance
- Audit trail for each and every action in the system meets external auditor requirements
- Reliable data structure, including links with audit assertions/process descriptions and with flowcharts/risk evaluation/control documentation, test and evaluation
- Real time data analysis enabled by an embedded consolidation tool
- Speedy deployment
- Minimal IT administration and a lean central functional administration
- Reliable technology capable of supporting thousands of users in compliance with group standards
Results
Within three months of the project's launch, RVR Internal Control was operating effectively in more than eight business units worldwide, with 1,500 users.
Sodexho
With over 300,000 employees in 75 countries, Sodexho holds world-leading positions in its three primary activities: food and management services; service vouchers and cards; and river and harbour cruises. Its annual turnover is approximately €11.7 billion.
Implementation objectives:
- Ensure that the CEO and CFO can confidently sign off the internal control certifications required by the applicable laws, including Sarbanes-Oxley and Loi de Sécurité Financière
- Continuously identify, gather and share best practice in internal control structure and documentation across the group
Criteria for selecting RVR Internal Control:
- Effectively caters for multiple regulatory regimes, without duplicating effort for distinct compliance projects
- A solid, stable system coping easily with over 300 concurrent users
- Provides the audit trail and security functionality recommended by one of the Big Four audit firms
- Supports audits by both internal and external auditors
- Easily configurable to utilise Sodexho's methodology, contributing to priority projects within the required timeframes
- Compatible with recognised internal control frameworks, including COSO
- Disseminates best practice, distributes updates and centralises information
- Available as a pilot, with a quick ramp-up to a full-scale implementation
- Web-based, which limits costs and simplifies deployment
- Easy-to-use for project managers and operational users
