GWC Solutions

IT Project Risk Management: Today's IT projects are much more complex than a normal construction project because of the systems, technology, organizational and business aspects involved. Because of this, over 74% of complex IT/ERP projects fail. One of the best ways to guard against this failure is to hire an experienced independent risk manager wh... o can see issues long before they affect the project budget, schedule or quality. See attached presentation for more information. SOX: Any company listed on a US stock exchange must pass SOX 302 (certification of financial reports) or 404 (certification of internal controls) and possibly must report under section 409 (material event reporting). Audit firms, executives, Boards and CIOs understand that the issue of compliance to these standards is now a part of business life. Unfortunately, the rules have been fluid and have wreaked havoc on IT groups as they are spending more resources on SOX than value creation. CIOs recognize that they need to put in place a system of controls to automate the effort of compliance, get IT projects back on track, and once again, focus their IT organizations on delivering long term value to the business. Independent consultants can help by executing the findings of the external auditor. If companies use the external auditor to execute the findings they are in effect asking the fox to guard the henhouse. If an independent is used the audit firms are much more likely to be reasonable for fear the independent may uncover abuses. This should be a sweet spot for a company like GWC. C-SOX: This is the same as SOX, except that C-Sox is less onerous and can usually be handled using internal resources. The only difference is that C-SOX is less onerous and can usually be handled by internal resources. Energy Trust Governance: There is a growing concern among the large energy trusts that they are too big to act small on governance issues. It appears that they have grown rapidly from a conglomeration of small companies and this growth has caused ...Read More