SOURCE: Wolf & Company

Wolf & Company

September 08, 2011 10:00 ET

WolfPac Integrated Risk Management® Releases Cutting Edge Online Financial Reporting Controls Assessment Tool to Help Drive Risk Assessment Costs to Lowest Level Possible

BOSTON, MA--(Marketwire - Sep 8, 2011) - Wolf & Company, P.C., a leading CPA and business consulting firm, today announced the release of its new online Financial Reporting Controls Assessment module that is part of the online suite of enterprise risk assessment, management oversight, and risk governance tools that make up WolfPAC Integrated Risk Management®. The module is a significant upgrade to the existing WolfPAC® Financial Reporting Controls Assessment tool and can be used by financial institutions and companies subject to Sarbanes-Oxley and the FDIC Improvement Act.

"The team of risk management experts at Wolf & Company worked with our clients and channel partners to improve and refine the Financial Reporting Controls Assessment module to make it even more streamlined, efficient and effective," said Michael Cohn, Director of WolfPAC® Solutions. "The new Financial Reporting Controls Assessment module will drive down the cost of risk assessment for those who use it by allowing them to meet their business goals while satisfying the requirements of auditors and regulators."

With the increase of regulatory requirements, financial institutions are increasingly recognizing the need for efficient and comprehensive enterprise risk management practices across their operations. WolfPAC® provides financial institutions with a set of tools and expert guidance to create a centralized view of their risk profile across their people, processes, and technologies that can reduce exposure to risk and counter the rising costs of compliance. WolfPAC® was created and is operated by highly experienced financial service professionals who have a mix of strategic, operational, and technical skills. Easy to use, WolfPAC® communicates complex enterprise risk concepts in clear business language. WolfPAC® is a trusted solution to financial institutions nationwide.

The improved and advanced Financial Reporting Controls Assessment module allows organizations to document the risks and controls in place over financial statement reporting. The new streamlined version of the tool brings greater efficiency by integrating the management programs needed for Sarbanes-Oxley, Gramm-Leach-Bliley, and business continuity planning. The module produces financial controls documentation based on evaluation and assessment and testing to support compliance with Sarbanes-Oxley 404 and FDICIA.

About WolfPAC Integrated Risk Management

WolfPAC Integrated Risk Management® ( is a secure, web-based enterprise risk management solution used to automate the identification of risks, threats, and control gaps. WolfPAC® keeps institutions safe and sound, and maximizes the outcomes of strategic initiatives. Developed by financial professionals in 2004, who were among the first to understand enterprise-wide risk assessment and implement risk management programs, WolfPAC® provides tools to review and assess information technology, privacy, vendor, compliance, and other enterprise-wide risk assessments. Quarterly methodology updates are designed to align with emerging compliance and examination standards. A robust suite of reports allows an institution's management to analyze their control gaps in relation to known threats, align with the institution's strategic objectives, and benchmark risk profiles against peers.

About Wolf & Company, P.C.
Wolf & Company is entering our second century providing assurance, tax, risk management, and business consulting services throughout New England. Clients can expect direct involvement from the Firm's owners and senior management, and responsive service from a multi-disciplinary team. Our collaborative service strategy enables us to develop a deep understanding of clients and their business needs, and to maximize opportunities while navigating any potential obstacles.

Wolf's areas of focus include Financial Institutions, Investment Advisors, Family Businesses, Employee Benefit Plans, Technology Companies and High Net Worth Individuals. The Firm employs over 175 professionals, and has offices in Boston and Springfield, MA and Albany, NY. Wolf is registered with and inspected by the PCAOB, and is a member of PKF North America, a national and international affiliation of CPA firms.

Contact Information

    Joseph M. Romanello
    WolfPAC(R) National Sales Manager
    (617) 261-8195
    Email Contact