Wednesday, January 19, 2005

Kubota USA to Manage Sarbanes-Oxley Compliance with Movaris; U.S. Subsidiary of Japanese Firm Uses Movaris Certainty to Reduce Compliance Time and Costs

Movaris(R), a leading provider of financial control management (FCM) software, today announced that Kubota USA, Inc., the U.S. subsidiary of Kubota Corporation of Japan (NYSE:KUB), has selected Movaris Certainty to manage its internal financial controls and Sarbanes-Oxley Act compliance requirements for Sections 404 and 302. Kubota chose Movaris Certainty for its ease-of-use, advanced email reminders to complete control-related tasks, and ability to track and escalate financial control issues to executives for action.

While the SEC considers extending the Sarbanes-Oxley Act compliance deadline for foreign corporations, Kubota intends to deploy advanced financial control management technology to manage compliance now. With several locations in North America, Kubota wanted an application that would reduce the workload of compliance, and make compliance-related information and issues much easier to track. Movaris Certainty delivers easy-to-use email reminders of upcoming compliance tasks for all Kubota's control participants. The system automatically detects non-compliance issues, and again uses email to automatically alert management about the issues, exceptions, and weaknesses in the financial control environment. Certainty's Financial Control Console aggregates information about the status of all control activities, and allows Kubota's executives to pinpoint the status and progress of each outstanding activity.

"We could not manage the documentation and testing of our 500 control objectives with office applications," said Susan Wood, director of internal control with Kubota. "Movaris Certainty's active financial control action plans for evaluations, tests, and self-assessments, centralized repository of evidence, and links to other reference information organize our internal control information -- at any given time, we can see the control items that need action. Down the road, we plan to expand our use of Certainty into operational controls as well."

Kubota USA to Manage Sarbanes-Oxley Compliance with Movaris; U.S. Subsidiary of Japanese Firm Uses Movaris Certainty to Reduce Compliance Time and Costs

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