Grant Thornton has launched cta.x, an app that allows companies and auditors to rapidly develop and deploy automated internal-controls tests.
According to the firm, it will help users comply with laws and regulations such as Sarbanes-Oxley, and will also help companies garner new insights from their internal-compliance efforts and increase the return-on-investment in their controls testing.
Grant Thornton’s Risk Advisory professionals will administer and use the cta.x app as part of their client-service delivery, while the firm’s clients will also be able to directly access and use cta.x.
Grant Thornton built cta.x using proprietary cloud-based software, which the firm, or client-staff auditors, configure to perform test procedures on controls data.
The app can also help a company identify discrepancies before they threaten data quality or business reputation. It accepts controls data that Grant Thornton has mapped to a standard model and then provides the flexibility to tailor-test procedures to specific controls attributes.
The firm can deploy cta.x in a client-specific environment within Grant Thornton’s software-as-a-service model, or in the client’s own environment.
Ethan Rojhani, partner in the Risk Advisory practice at Grant Thornton, said: “Controls testing is traditionally conducted by a human being assessing evidence and manually analyzing data in a spreadsheet or system for governance, risk and compliance.
“The cta.x app automates and integrates controls testing by taking existing assurance processes and applying them to the full population of procedures and policies governing controls. It then pipes the data through Grant Thornton’s proprietary logic engine and produces testing results in sophisticated, customizable dashboards.”