iComply releases the 2009 edition of its award-winning regulatory compliance software- massive savings made possible

28 January 2009

iComply announced today the 2009 release of its iAppraise Risk and Compliance Software.

iAppraise is a highly focused and specialised application for the management of compliance through reviews, assessments, and oversight programs for corporate, regulatory and institutional users.
Receiving frequent accolades for its flexibility and ease of use, the application has been extended and enhanced to include a number of key new features:

Self Service Portal
“This key attribute gives iComply an additional major point of difference in the market”, said CEO Tony Stephenson, “but more importantly, provides our users - such as regulators – with the means to save massively on compliance oversight.” Continuing, he said “A regulator, or any other user, can set up intelligent self assessment questionnaires on any subject, as well as notification forms, and make these available to stakeholders via the portal. Users can respond online, and upload documents, records and other evidentiary material as part of the assessments – and data is recorded directly into the database. The application notifies an internal resource for evaluation, clarification and hopefully, approval, or sends out overdue reminders to ensure compliance stays on track. This means regulators can combine online assessments with a sensible on-site surveillance program, thereby reducing resources and cutting back substantially on time, travel and other external expenses.”

Enterprise Risk Management
“What’s new about this optional component is our focus on control auditing and assessment as an integral part of Risk Management”, says Stephenson. “Too often Risk Management is an end in itself, and ignores the critical appraisal of adherence to, and the adequacy of, mitigation control measures.” “You don’t have to look too far to work out the devastating effect of oversight failure, but this is understandable because oversight is a ‘last yards’ defence, and there few tools around that have the feature set to accommodate a full range of requirements”.

iAppraise, with its flexibility, integrated mobile tools and powerful features, makes it possible and practical to implement robust compliance programs, in all industry sectors.

iComply, based in Australia, recently announced the uptake of its iAppraise product by the Australian Stock Exchange as the online technology platform for its Participant Compliance program to be rolled out in February 09.

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