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OpusCapita® Case Pilkington Group builds more discipline for J-SOX For more than 18 months, NSG Group and its subsidiary Pilkington Group Limited, together one of the world's largest manufacturers of glass for the building and automotive industries, have been getting ready to comply with J-SOX requirements. "In 2006, Pilkington was bought by NSG Group, who are listed on the Tokyo Stock Exchange. At the same time, Japan passed J-SOX, a piece of legislation similar to the Sarbanes-Oxley Act in the United States. As a subsidiary of NSG Group, we needed to start our own compliance project," says John Burchill, Head of Internal Audit for Pilkington Group. The J-SOX processes need to include at least two thirds of the business entities, as represented by the external sales figures. For Pilkington Group, this meant the head office in the UK and another 15 subsidiaries across Europe and North America. One of the entities included is Pilkington Automotive Finland. "The scope of the J-SOX project included describing financial reporting and accounting processes themselves, sales and inventory management processes, some IT processes, and of course cash management and accounts receivable and payables processes," lists Sami Ahlström, Financial Controller at Pilkington Automotive Finland. "We had adequate basic controls in each unit before, but J-SOX means more documentation, more discipline. When examining the controls, we faced, for example, situProblem: In 2006, Pilkington was bought by NSG Group, listed on the Tokyo Stock Exchange. At the same time, Japan passed J-SOX, a piece of legislation similar to the Sarbanes-Oxley Act in the United States. As a subsidiary of NSG Group, Pilkington needed to start its own compliance project. Pilkington Automotive Finland · Part of NSG Group, which is one of the world's largest manufacturers of glass and glazing systems. · Provides glass products for automotive industry and building markets. · Net sales EUR 174 million. · 1,200 employees. · NSG Group has net sales JPY 800 billion with manufacturing operations in 27 countries and sales in 130 countries employing 36,000 people. Solution: OpusCapita developed new data security procedures to facilitate and expedite user management features. Pilkington have now improved controls for the good of business activities, including for those entities where J-SOX is not required. Pu b l i s h ed: OpusCapita Journal 2009. T E X T: Riikka Tietäväinen-Arola PHOTO: Pilkington Automotive Finland info@opuscapita.com · www.opuscapita.com
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