Audit Management

Internal auditors are under constant pressure to provide enhanced assurance and accurate, actionable information to executive management and audit committees quickly and cost-effectively. Maximizing effectiveness while managing costs requires internal audit management software that is customizable to the company’s needs and simplifies and streamlines the audit process without sacrificing flexibility.

Audit management is also increasingly integrated with other risk management and assurance processes in the business. Resolver’s internal audit management software platform delivers high quality integration points to practice areas such as Compliance, Risk Management and other governance and oversight disciplines. It is the proven choice for organizations seeking a robust, secure and integrated audit management solution, and is in use at the world’s best managed companies with large and distributed audit departments.

These are some of the common internal audit challenges that our solution helps address in leading companies around the world:

  • Expectations have risen and resources have stayed the same or decreased
  • Your current solution lacks the flexibility to adapt as your audit processes evolve
  • You have run into limitations in terms of effective and flexible scoping tools to help plan your audit
  • Your audit solution is stand alone and has no ability to integrate with other areas of the business
  • You are limited in terms of the flexibility of reporting
  • You have never used software to support the audit process and need to better understand the benefits
  • You are tasked with implementing a new audit department

Find out how GRC Cloud for audit is helping companies overcome these challenges and many more:

Feature Benefit

Risk-based Planning and Scheduling

GRC Cloud and Resolver*Ballot allow you to collaborate and assign risk-ratings to all auditable entities and areas of the business. Regardless of the size of your audit team, using a risk-based approach to planning ensures that you make the most of your resources by auditing the right parts of the business. Planning can be multi-year if desired.

Issue and Action Tracking

Integrated issue management from audit projects and all compliance, legal and risk management programs. Integrated issue and action tracking allows the audit team and senior management to gain an integrated and holistic view of issues that arise in the business and what is being done to remediate them. Configurable workflows allow for automated routing and escalation of issues.

Scoping

A risk scoping framework to determine company’s compliance exposure. Focus on the high risk areas to ensure maximum compliance coverage with optimal resources.

Flexible Reporting

The system has a robust and flexible reporting capability. You can easily respond to ad-hoc reporting requests, share reports or run scheduled reports. These reports can be customized depending on the intended audience. You will dramatically reduce the time spent generating reports and determining the status of your audit projects and the related testing progress.

Dashboards

You can create your own custom dashboards so that any time you log into the system, you will have an ‘at a glance’ understanding of the status of important items. If you have broad accountability for the Audit program, you can keep track of the progress of testing and remediation activities. If you are an auditor, you can use Dashboards to track your own progress and manage your work.

Automated Scheduling

Through our workflow tool, you can set triggers and alerts to inform users that work needs to be done, that a deadline is looming or that work is past due. Once the audit plan has been determined, use our workflow tool to build a schedule and set up a system of alerts. A system of alerts will ensure that the people responsible know what they have to do and when they have to do it.

Simplified Screens for Light Users

One click functionality allows users to get into the system, enter or update the appropriate information and then log back out. Simple, easy to access screens give the business an efficient way to respond to requests from the Audit Team. This increases the quality and timeliness of responses and therefore aids in the overall effectiveness of the audit.

Library Management

All content and knowledge is retained as it is updated or created in an audit project. Future projects benefit from the learning of each previous audit. Auditors testing similar processes for different business units or across years can reduce the documentation effort by using information stored in the library . Also, new members of the audit team have access to the accumulated learning.

Multiple Levels of Sign off

Completely configurable and you can assign any number of levels of sign off to any item in the system. A workflow-driven feature that allows you to ensure the right checks and balances are in place. When a test result has been completed it can be passed on for approval or when a remediation activity has been marked completed, this can also be passed on for final sign off. These checks and balances give you the confidence you need at every level in your Audit Program.

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“[GRC Cloud] documents and structures material very well… giving us a very comprehensive database. For every risk we identify and record we also look at the mitigations, which can either be through pre-existing controls … or an action plan to mitigate the risk. Here, we can apply target completion dates, and interrogate the system and check on dates as they come due. We have enough flexibility.”

- IATA (International Air Transport Association), Airline industry representative group with worldwide presence.

“The GRC Cloud platform, combined with Resolver’s commitment to product evolution and customer service has easily made this one of the best decisions to improve the overall efficiency and effectiveness of our internal audit department.”

- CML Healthcare, national diagnostic healthcare provider

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