Open Text Corporation (NASDAQ:OTEX) (NASDAQ:TSX:) (NASDAQ:OTC) announced the release of a major new version of its internal controls software, with new features to manage the costs of complying with corporate governance laws such as the U.S.’s Sarbanes Oxley Act and similar legislation worldwide. Open Text Internal Controls 3.0 offers a centralized, enterprise-wide system to manage internal controls information, including the ability to automate processes and internal reporting. The solution is based on Open Text’s Livelink ECM suite, which provides a broad platform for managing enterprise compliance, so customers can bring internal controls processes into a broader compliance strategy. The solution combines corporate governance tools, including a “controls library” to maintain all information on internal controls and risk mitigation; controls testing and self assessments; issues remediation and task management; audit trails; employee certifications; and reporting. The solution offers a variety of configurable options to minimize the need for customization, and can be applied to address the U.S.’s Sarbanes Oxley Act; Canada’s Bill 198; the U.K.’s Combined Code and Turnbull report and the Companies Bill; France’s Loi de Securite Financiere; Germany’s KonTraG – Law for Control & Transparency and the German Code of Corporate Governance; and the European Union’s Proposed Directive on Statutory Audit. Other features include workflow and e-mail integration to manage processes involved in the certification of internal controls. http://www.opentext.com

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