Compliance & Audit
Not much raises the stress level for people in accounting more than an audit. Not only do you need to comply with rigorous rules, you must be able to prove it – and then you need to be as error-free as possible, track observations, and record corrections. BOLO’s Audit Portal makes it easy to trace any transaction data back to its original source and to obtain a complete and accurate history of all financial activities.
Secure, Fully Auditable, and Built For Oil & Gas. As your company grows, you’ll need to continually add and modify user access to sensitive information critical to addressing SOX, GAAP and other regulations. BOLO is a foundation of compliance, a fully auditable system that integrates with third-party enterprise accounting packages, creates operational transparency and establishes solid, configurable access control. And, it helps your team efficiently address reporting requirements.
Compliance & Audit
The Sarbanes-Oxley act is arguable one of the most significant federal corporate accountability laws ever enacted. It has also added a large burden to corporate finance team workloads. BOLO provides audit and internal controls to meet the most stringent compliance requirements. SOX compliance is built into the foundation, ensuring adequate controls are in place and proven.
User & Application Security
Data, user, and application security is top of mind for chief technical officers in oil and gas. BOLO has multiple levels of security. User-level security validates controls access to the BOLO applications. Menu security provides access to the appropriate screens, either as read-only or with update rights. Company security ensures authorized users have access to the appropriate company information and Cost Center security ensures specific users have access to the appropriate cost center information.
BOLO tracks changes to a multitude of data elements in the system and allows you to set triggers that log any changes. Logs are retained for a period that you specify and, most importantly, the log keeps track of the original value.
BOLO’s logs are great tools for internal controls and auditors. Changes to records are logged with the old value retained, the date the record was altered, and who made the update. Optionally, you can require comments be entered to document why a change was made.