December 2024

Compliance Management: Assign Guest Users as Control Owners

You can now assign guest users as control owners in Compliance. This feature is ideal for tracking control ownership without requiring full access to the FloQast Compliance product. Similar to Evidence Requests and Certifications, guest users can be created as contacts and assigned as primary or secondary control owners. Additionally, certifications can be sent directly to guest control owners.

 

Scoping Enhancements

We've introduced new features in our Scoping module to improve your workflow:

• Linked Risks Panel: Similar to the 'Linked Controls' panel, the new 'Linked Risks' panel automatically populates risks based on the selected processes. You can customize which risks are linked to each FSLI via the side drawer.
• Risk Badges in the Controls Panel: We've added Risk badges to the 'Linked Controls' panel. You can now see, based on your RCM, which risks are associated with your controls, improving the completeness and accuracy of your linkages and assessments.
• Filtering Capabilities: New filters allow you to search for FSLIs or explanations, narrow down line items by specific processes, risks, or controls, and use quick filters to improve efficiency and streamline decision-making.

 

Image Upload and Annotate Support for Tests

You can now upload and annotate image file types, including .jpg, .jpeg, .jfif, .pjpeg, .pjp, and .png, directly on the Annotations page. Previously limited to PDFs, this update allows you to work with a wider range of file types without needing to convert them to PDF first.

 

Compliance Quick View

Introducing Compliance Quick View, now available in all compliance modules except Scoping, Frameworks, and Policies. This feature makes navigating and accessing details across compliance modules smoother and more efficient. When you click on an item, a side panel will now open, displaying all relevant details and linked records—whether it’s a control linked to a narrative, a risk linked to a control, or issues linked to a test. This works for rows in table views and badges, allowing you to view key data without leaving your current screen.

 

Multi-file Support for Narratives and Flowcharts

You can now upload multiple files per process for Narratives and Flowcharts, with options to assign users and set due dates for each file. A Linked Controls Roll-up table summarizes conflicts across all files, and you can drill down into individual files for more detail. In cloud storage, subfolders will be created to organize files and versions within the Narratives and Flowchart folders.

 

Frameworks

Introducing the Compliance Frameworks module! This new feature enables you to track and manage compliance across multiple frameworks, reducing manual effort and streamline control assessments. Admins and Managers can now upload custom frameworks, map controls to specific requirements, and manage framework data directly within FloQast.

Key Features:

• Upload Framework Requirements: Use an Excel template to upload any compliance framework, including SOC2, ISO, NIST, and more.
• Map Controls to Requirements: Link controls to framework requirements to demonstrate compliance and reduce duplication across frameworks.
• Framework Management: View, edit, and delete frameworks within the Frameworks module.

This update helps you expand beyond SOX compliance to address diverse industry standards, ensuring better visibility and control across all your compliance initiatives.

 

Slack and Teams Items Due Soon Notification

We’re excited to introduce the first steps toward integrating Compliance Notifications into Slack and Teams! You can now manage notification preferences by turning email notifications on/off or choosing where to receive updates. This feature will roll out in stages by notification type, starting with “Due Soon” notifications in this release. Stay tuned for more updates as we continue enhancing how you stay informed!

 

November 2024

Custom Fields for Tests

You can now customize and manage test data more effectively with enhanced features, including a refined default Test page view with hover states. Add, remove, and reorder columns, apply filters from the filter drawer, and view custom fields in the Test drill-down. Additionally, custom fields can now be edited using the "Revise Tests" import functionality.

 

Link Key Systems to Multiple (or no) Processes

You can now link key systems to multiple processes—or no process at all—directly within the platform and via bulk import. This update provides greater flexibility in setup and organization, allowing you to reflect scenarios where a key system (e.g., NetSuite) is used across multiple processes. The dropdown in the platform and the bulk import template have been updated to support this change.

 

October 2024

Manually Send a Reminder in Certifications

A new enhancement in Compliance Certifications allows you to manually send reminders to those who haven’t completed their certification—either individually or in bulk. This feature will make it easier to keep everyone on track.

 

Tests Enhancements

We’ve two new features for Compliance Tests users:

• Highlighting in Annotations: You can now highlight key information directly in the annotations page to improve visibility during file review.
• Replying to Review Notes: You can now reply to review notes within the annotation page, allowing for a streamlined, single-view discussion.

We hope these enhancements enable increased collaboration within the Compliance Tests module.

 

Custom fields for Issues

We’ve added the ability to create global custom fields for use in Issues, allowing you to tailor your documentation for different use cases. You can edit custom fields directly in the app or through bulk import, and they are viewable on the drill-down page of Issues. This update offers more flexibility in how you manage and evaluate issues.

 

Policy Management

We’re introducing the new Policy Management module to streamline how you manage, update, and link policies and procedures within FloQast. This module allows you to create and categorize policies, assign users, upload policy documents, and set up sign-offs to lock completed policies for added oversight. You can also filter and export policies, manage review notes, and easily navigate between policies for editing and updating.

 

FSLI (Financial Statement Line Item) Scoping

We’ve introduced a new module to help Internal Audit teams centralize and streamline their FSLI scoping process. Previously, users had to perform their scoping assessments in Excel, outside of FloQast, which limited visibility and integration. With this new solution, you can now input your financial statement data, perform scoping assessments based on both quantitative and qualitative factors, and link the data directly to relevant processes and controls.