Approva Appoints Two Eminent Industry Leaders to Advisory Board

RESTON, VA--(Marketwire - July 26, 2007) - Approva® Corporation, the leader in continuous controls monitoring and audit automation software, added two new members to its advisory board to provide additional expertise and new perspectives to the company as it continues to expand.

The new advisors are Michael P. Cangemi, President and CEO of Financial Executives International (FEI), and Miklos Vasarhelyi, Professor of Accounting, Business Ethics & Information Systems at the Rutgers Business School.

Mr. Cangemi is a noted author, speaker and business consultant in the areas of internal audit, audit management, information systems and accounting. As president and CEO of FEI, the professional association of choice for senior-level corporate financial executives, Cangemi oversees the organization's efforts to advance ethical and responsible financial management. Formerly, he was President, Chief Executive Officer and Director of Etienne Aigner Group, Inc., a leading designer of women's branded accessories. Mr. Cangemi's career spans his progression from public accounting to CIO, CFO and CEO. During his career, he has also held positions at BDO Seidman, Phelps Dodge Corporation and Ernst & Young. Cangemi has held leadership positions in several auditing related organizations such as the IIA, the IIA Research Foundation and was voted an honorary lifetime member of ISACA for his services as International President and Editor-In-Chief of the IS CONTROL Journal from 1987 to 2007. Mr. Cangemi holds a BBA from Pace University and his book, "Managing the Audit Function" is now in a third edition and has been translated into Chinese.

"Technology providers like Approva are making the CFO's job easier and significantly reducing the costs associated with internal controls monitoring," said Mr. Cangemi. "I have been a proponent of continuous auditing for years and look forward to being a part of a company like Approva that is dedicated to improving controls efficiencies."

Professor Vasarhelyi is a sought after expert in continuous auditing, accounting systems, expert systems and e-commerce. He is also the technology consultant to companies including Intelligent Financials Systems Group and AT&T Labs. Vasarhelyi has authored several books on Accounting (Pensions and Inflation), Computer Related Topics (Internet, APL language, Microcomputers, and Advanced Auditing, Expert Systems), and Research (Literature Directory). He has written over 80 articles published in journals and publications including the Journal of Accounting Research; Auditing: A Journal of Theory and Practice; and the Journals of Accountancy, Decision Sciences, Accounting, and Organizations & Society. He holds a PhD in Management from the University of California, Los Angeles and a MS in Management from the Massachusetts Institute of Technology.

"While Sarbanes Oxley compliance has advanced the rapid growth of automated audit solutions, the focus is now to move from basic compliance to a more long term risk based approach," said Professor Vasarhelyi. "I am excited to see Approva enter that next phase in continuous auditing."

"We are deeply honored to have Mr. Cangemi and Professor Vasarhelyi join the Approva Advisory Board. Their knowledge and expertise is pivotal to Approva's leadership and continued growth in the Governance Risk and Compliance market space," said Approva CEO, Prashanth "PV" Boccasam. "With more and more companies selecting Approva as their Continuous Controls Monitoring solution, advisory leaders like Mr. Cangemi and Professor Vasarhelyi provide valuable insight into new industry trends that will drive market demand in the coming years."

About Approva

Approva® Corporation is the industry-leading provider of continuous controls monitoring and audit software. We enable business, finance, IT and audit professionals to automate the on-demand testing, closed-loop remediation and continuous, exception-based monitoring of controls within and across their business systems. Using our solutions, customers are able to significantly increase visibility into their controls, streamline the audit process, cost-effectively sustain their compliance initiatives and reduce exposure to mistakes, fraud and inefficiencies for business processes such as procurement, sales and delivery, payroll and financial close. In addition, our automated solutions act as key preventative and detective controls, further strengthening our customers' financial and operational control environments. Global companies such as Campbell Soup Company, Colgate-Palmolive, the Commonwealth of Pennsylvania, DirecTV, Discovery Communications, McCormick & Company, P&G, Pratt & Whitney, Siemens and Wyndham Hotels & Resorts rely on Approva BizRights® Platform and Enterprise Controls Suite to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls. For more information, visit www.approva.net.

Editors Note: For additional and more specific background on each of Approva's initiatives, please go to Approva's press room.

Contact Information: For More Information Contact: Matthew Langan DBC Public Relations for Approva 202.298.7600 x.219 matthew@dbcpr.com