The CFO Guide: Managing Fixed Assets and Ensuring SOX Compliance
Explore ILORA's advanced financial tools: Asset lifecycle management, QR physical audits, and banking-grade SoD.
Towards Professional, Error-Free Financial Management
Legacy systems like SAP have long been the only choice for companies looking for strict fixed asset management and governance rules. But today, ILORA brings these complex features with a modern user interface and affordable cost for mid-to-large companies.
Fixed Asset Lifecycle Management
ILORA doesn't just record assets; it manages their entire lifecycle through:
- Transfer & Disposal: Easily transfer assets between branches, and record sales or disposal with automatic gain/loss calculation and automated journal entries.
- Revaluation: Full compliance with IAS 16 to calculate revaluation surplus/deficit.
- Advanced Depreciation Schedules: Support for multiple depreciation methods (Straight Line, Double Declining, etc.) with full lifetime projection.
- Physical Audit with QR Code: Perform annual audits by scanning QR codes via mobile, and the system automatically reconciles discrepancies and highlights missing assets!
Banking-Grade Compliance & Governance
ILORA is designed for strictly regulated companies, offering:
- SOX Segregation of Duties (SoD): The system automatically prevents conflict of permissions (e.g., creating and approving the same invoice) and logs violations.
- AML Transaction Monitoring: A built-in system to detect transactions exceeding thresholds or unusual patterns, with a dedicated investigation workflow.
With ILORA, you are not just managing accounts; you are protecting your company and ensuring compliance with the highest global standards.