LONDON, Nov. 10, 2020 (GLOBE NEWSWIRE) — The Dow Jones Risk & Compliance sanctions platform and data set have been audited against the International Standard on Assurance Engagements (ISAE) 3000 (Revised) for the sixth year running.
The audit, performed by PricewaterhouseCoopers (PwC), evaluates the design and operating effectiveness of internal controls over the sanctions platform and data set operated by Dow Jones’s 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 Data Quality Report, which details how its data performs against internal quality benchmarks and the growth of its content and data sets over the past year.
Highlights of the 2020 Data Quality Report include:
- Content accuracy: Over the year ending June 30, 2020, Dow Jones maintained an average precision of 99.33%, and 98% of Dow Jones’s profiles contain secondary identifiers to reduce the number of false positives in screening. Dow Jones performs almost 500 quality checks every month as part of its accuracy assurance process on new and existing profiles.
- Growth in our content sets: In the past year, the Dow Jones Risk Database has grown to 3.2 million consolidated profiles, covering politically exposed persons, adverse media, state-owned companies, sanctions and other official lists and sanctions control and ownership.
- COVID-19 response: Dow Jones responded quickly to provide resources to help customers identify and manage pandemic-related risks. This included an Adverse Media Entities report covering more than 3,800 companies worldwide that are facing coronavirus-related issues, as reported by trusted news sources.
- Enhanced offering: Notable product enhancements include Advanced Adverse Media Screening; the new RiskCenter Financial Crime tool, which includes access to broader content sets, and specialized Due Diligence Reports helping customers manage the expansion of export controls to China, Russia and Venezuela.
“The past 12 months have been characterized by a significant increase in regulator activity,” said Guy Harrison, General Manager of Dow Jones Risk & Compliance. “With sanctions lists issued by the UN, OFAC, EU and HMT updated every 22 minutes on average, it is vital that businesses have access to the latest, most complete information. Our 2020 ISAE 3000 audit and Data Quality Report underscore our continued commitment to helping our customers uphold the highest standards of sanctions compliance, against this backdrop of constant change.”
The PwC report and Dow Jones’s 2020 Data Quality Report are available to customers upon request. Further detail on both reports is available here.
About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest news gathering operations globally. It produces leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Factiva, Barron’s, MarketWatch, Financial News, Dow Jones Risk & Compliance, and Dow Jones Newswires. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).