KimberlyBy Anna Maria Virzi | Posted 2005-09-07 Print
The maker of Kleenex tissue and other products faced a daunting task: Document 4,000 different financial controls. It could have been worse.-Clark By the Numbers">
Headquarters: 351 Phelps Drive, Irving, TX 75038
Phone: (972) 281-1200
Business: Manufacturer of facial and bathroom tissues, paper towels, napkins, disposable diapers, and feminine-hygiene and incontinence-care products for consumers; health and hygiene products for business. Brand names include Kleenex, Scott, Cottonelle, Viva, Huggies, Depend and Kotex.
Project Leader, Sarbannes-Oxley: Jerry Rehfuss
Financials in 2004: Sales of $15.08 billion; net income of $1.8 billion.
Challenge: Identify, test and document 4,000 internal controls each year for a company with 60,000 employees at 200 locations in 50 countries.
- Cut spending on Sarbanes-Oxley compliance by 25% in 2005, from more than $10 million in 2004.
- Ensure that access to computer systems and applications is audited annually and reviewed quarterly; the process had been sporadic.
- Reduce the number of controls that need remediation and/or better documentation by at least 50%.
IT Solutions Builder TOP IT RESOURCES TO MOVE YOUR BUSINESS FORWARD
Which topic are you interested in?
What is your company size?
What is your job title?
What is your job function?
Searching our resource database to find your matches...