Regulatory Compliance Solutions
Regulatory compliance mandates are increasingly targeting EUC (end user computing) applications because they lack native controls.
EUCs are used everyday yet are overlooked as a critical enabler of financial reporting processes. Their lack of oversight and native controls are inherent risks that can translate to significant enforcement actions. Fines can cost millions and can also damage a company’s reputation.
Data Privacy (GDPR, CCPA, etc)
EUCs such as spreadsheets can be used to do many things. Sometimes they’re used for storing personal data. If that’s the case, it also makes them a compliance risk for many data privacy regulations. One of the most important regulations regarding this is GDPR.
New regulations focused on addressing EUC governance are constantly being enacted across the globe. Apparity is constantly monitoring the regulatory landscape to identify areas to enhance our offering and better support our customers.
Spreadsheets are a key tool in banking. Regulatory mandates such as Basel III, DFAST and CCAR force banks to evaluate how they manage their end user applications in a rigorous control framework.
As many insurers come to learn, spreadsheets and other EUC applications lack controls. Applying them manually is far too heavy a burden given their complexity. This contributes to data quality issues, a lack of ownership visibility, and unclear access rights. Furthermore, many regulators require historical detail to gauge completeness— something Excel does not offer.
Utility companies use Excel spreadsheets to consolidate financial information, energy trading, and operational data from different regional systems. SOX and regulatory agencies require companies to use a rigorous control framework to make sure that financial reporting, rate case details, energy trade confirmations, and commodity commitments are sound and accurate.