LONDON, Dec. 30, 2019 (GLOBE NEWSWIRE) -- Dow Jones Risk & Compliance’s sanctions platform and data set have been audited against the International Standard on Assurance Engagements (ISAE) 3000 for the fifth year running.
The audit, performed by PricewaterhouseCoopers (PwC), assessed the design and operating effectiveness of the internal controls over the sanctions platform and data set operated by Dow Jones’ global research team. PwC assessed the controls over the monitoring, processing and updating of sanctions information, as well as company-level, technology and quality check controls.
Developed by the International Auditing and Assurance Standards Board, ISAE 3000 is one of the most widely recognized standards used by accounting firms to independently assess a company’s report regarding its control environment.
To coincide with the audit, Dow Jones has also released its annual 2019 Data Quality Report, which details how its data performs against quality benchmarks and the growth of its content and data sets over the past year. Highlights of Dow Jones’ 2019 Data Quality Report include:
- Secondary Identifiers: 98% of Dow Jones’ risk profiles have secondary identifiers, a critical measure of data accuracy. More than two thirds (67%) of those have two or more secondary identifiers.
- Accuracy: From June 18-June 19, Dow Jones maintained a content accuracy rate of 99.35%. Accuracy of Dow Jones’ profile names and alias data was 99.99% when compared against eight significant sanctions list groups.
- Quality Checks: Dow Jones performs 500 monthly quality checks on new and existing profiles.
- Timeliness: Dow Jones’ sanction alert feeds are updated up to every four hours.
“In an era of misinformation, data quality has never been more important,” said Guy Harrison, General Manager of Dow Jones Risk & Compliance. “A huge amount of rigour goes into Dow Jones’ ability to filter tremendous volumes of news and information, so we can provide customers with the facts they need to manage risk and stay compliant. Our 2019 ISAE 3000 audit and Data Quality Report are testament to the world-class expertise of our research team and our commitment to providing the best data quality in the industry.”
In the past year, Dow Jones’ Risk Database has grown to 3 million consolidated profiles, covering politically exposed persons, adverse media, state-owned companies, and sanctions lists. Its sanctions ownership coverage covers 40 sanctions programs, including more than 20,000 entities.
The PwC report and Dow Jones' 2019 Data Quality Report are available to customers upon request. Further detail on both reports is available here.
About Dow Jones Risk & Compliance
Dow Jones Risk & Compliance is a global provider of third-party risk management and regulatory compliance solutions. Working with clients across the globe, it delivers research tools and outsourced services for on-boarding, vetting and investigation to help companies comply with anti-money laundering, anti-bribery, corruption and economic sanctions regulation in mitigating third party risk. The Dow Jones Risk & Compliance business grew 25% year-on-year over the first quarter of fiscal 2020, and exceeded $130 million in revenues in fiscal 2019. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).
Media Contact
Sophie Bent
sophie.bent@dowjones.com