NASDAQ OMX's BWise(Nasdaq:NDAQ), a global leader in Governance, Risk Management and Compliance (GRC), announced today that it has been selected by Marine Harvest, one of the largest seafood companies in the world, to support their SOX compliance processes. Marine Harvest will leverage BWise's Rapid Deployment Solution for Internal Control (RDS IC) to document and prove control over their internal control processes.
Marine Harvest is listed on both the Oslo Stock Exchange (OSE) and the New York Stock Exchange (NYSE), and due to its listing in the United States is required to prove compliance with the Sarbanes-Oxley (SOX) regulation. SOX requires all financial processes to be managed and reported according to a time-consuming, stringent set of rules and regulations. BWise software supports the necessary capabilities to streamline and automate the managing process, as well as recording controls and to accurately report them.
"We are proud to have been selected by Marine Harvest to help further develop and streamline their SOX compliance processes," said Robert Pijselman, Chief Executive Officer, BWise. "We believe they will be able to quickly gain value from the solution and will benefit from being able to leverage the comprehensive internal control capabilities for enhanced transparency in this area. Additionally, with the scalable nature of the system, Marine Harvest will be able to efficiently manage additional GRC initiatives in the future."
Part of the BWise GRC Platform, the Rapid Deployment Solution for Internal Control (RDS IC) is based on best practices gained from 20 years of enterprise GRC experience servicing hundreds of clients globally. In a matter of weeks, the solution enables better transparency and management over internal control processes and SOX compliance.