Built on a flexible GRC platform, the solution will scale across Tronox’s global enterprise, unifying the complete range of their SOX compliance processes and data in a common framework for enhanced transparency and accountability. The solution will also enable a systematic, risk-based, and automated approach to SOX compliance and control testing, thereby supporting more robust risk management and compliance programs that enhance the firm’s reputation and reduce the likelihood of unanticipated fines or costs.
Tronox mines and processes titanium ore, zircon and other minerals, and manufactures (TiO2) pigments that add brightness and durability to paints, plastics, paper, and other everyday products. The company’s electrolytic and specialty chemicals division provides innovative products to the energy storage, paper, automotive, and pharmaceutical industries. Tronox has a workforce of more than 3,400 employees operating in 18 locations around the world with production facilities in
“To support our new SOX program, we were looking for an integrated compliance solution that could be implemented quickly,” said
Over time, the
The solution also provides advanced SOX scoping capabilities for controls testing, automatic notification and routing of activities such as design and operating review, risk assessments, signoffs, and certifications. Additionally, the solution will streamline quarterly and annual control surveys and certifications, help document key controls and gaps, and demonstrate how relevant risks are factored into the periodic compliance risk assessment process. Powerful reports, charts, and dashboards will provide insight into the current state of financial reporting and compliance. The solution also provides drill-down capabilities through sub-reports and in-context data to support root cause analysis.
As mining companies operate in increasingly diverse, global, and resource-rich regions, it becomes challenging to ensure transparency across all business activities. Therefore, companies must strengthen their internal controls and compliance programs to provide ongoing assurance to the regulators that assets are protected, transactions are legitimate, and material irregularities are prevented.
“We are excited that Tronox has selected
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