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Sarbanes-Oxley
The Sarbanes-Oxley bill providing for SEC (Securities and Exchange Commission) regulations addresses public accounting audit firms, corporate officer financial agreements, and other areas for ensuring that companies report accurate accounting information. Section 404 of the Sarbanes-Oxley bill states that companies must also certify the internal control infrastructure for financial reporting.
Unanet provides for the collection, storage, approval, and exporting of time and expense data for payroll, invoicing, and general ledger entries. Through this internal control infrastructure, Unanet helps comply with Sarbanes-Oxley by providing:
Internal Visibility
Users, managers, project managers, customers and administrators can review the charges with the appropriate security access. Users can view only their own data. Managers can be limited to view only the data of people that report to them. Project Managers and Customers can be limited to only their own project data. As data is entered in real time, people can view the data. This continual and real time review of the raw data and the powerful report analysis provides strong internal visibility.
Accuracy and Synchronization with General Ledger
Unanet data can be synchronized to the general ledger. Quality is ensured by authorizing labor and expense costs by an individual to a project. Further, the charges can be constrained by a data range and/or a budget. Lodging and Meals and Incidental Expenses are appropriately allowed by data from the government per diem tables. Entered by employees with the quality constraints and reviewed by authorized managers, project managers and/or customers, the data is then approved for accuracy. Unanet provides exports to back office applications. After the regular periodic export, changes in Unanet are made under a controlled adjustment process that is approved and changes are transmitted to the back office application to synchronize the reporting from all sources.
External Transparency
Unanet provides tools for auditors and customers to review the charges for accuracy. Auditors can search through all the data to see all facts about a particular charge. Submittal of charges are noted by the name of the submitter and the data and time. Approval and disapproval of charges are also noted by the approvers (managers, project managers and customers). Alternate approver information is displayed when approving. Changes to the timesheet after saving are noted in accordance with DCAA standards (for government contractors).
Additional Information
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