Automate your Audit Processes effectively, to make a significant value addition
Neither successes nor failures can be determined without examination and only a proper inspection is what brings out the best behind the organizations successes and failures.
Auditing helps organizations evaluate and improve effectiveness of risk management, controls and governance processes. Having an effective internal audit framework is an important asset that allows organizations to determine where key strengths and weaknesses exist within their processes. Internal Audit management systems help in good support of organizations risk and governance policies, improve effectiveness of internal audit and increase the department’s execution and monitoring capacity.
Stakeholders including boards of directors, audit committee members, employees, regulators, and stockholders are watching to see how internal audit responds to its growing strategic role, particularly in the area of identifying risk. Internal Audit departments have to ensure that risk management policies are effective while making way for future potential for improvement- on tight budgets and limited resources, hence there is a need to have it all in one place to ensure effective management of the audit process of the company.
Expand Your insights through an integrated, risk-based Audit approach.
The Audit Management module of smartGRC is a systematic and disciplined framework that helps you manage end-to-end Audit processes – from Risk assessment, Audit planning, scheduling, fieldwork, reporting to tracking and managing exceptions. Our audit solution is based on best practices of internal audit; following international standards and recommendations outlined in industry standards.
Through smartGRC’s – Audit Module, the management or auditors work is simplified on day-to-day basis through standardized and automated methods, which helps you to –
- Perform value added & on demand – Risk based Audit
- Design, Schedule and Manage Audit Program more effectively
- Audit Work Program with Work Papers, Audit Scope and Time & Budget analysis
- Execute and track Audits easily, record qualitative & quantitative findings
- Assign & Follow up with open activities/Audit Observations
smartGRC’s Audit module is also available as a standalone application or as an add-on module to a more comprehensive implementation based on the smartGRC’s Enterprise Platform. With integrated reporting/dashboards, full audit support, and more, smartGRC’s Audit Management Module is a comprehensive solution to your Internal Audit frameworks requirements
Audit MANAGEMENT SOLUTION FEATURES
Risk Framework Integration
Fully integrated with Enterprise Risk Management platform through Audit Universe which allows Risk Managers and the Audit Team to work seamlessly alongside one another
Auto Audit Scheduling
Enables Auditors to Auto-schedule audits, assign responsibilities with due dates, and send out automated alerts; offers tools for time, budget & expense tracking and audit resource management
Internal Audit Execution
ERM Integrated, dedicated Audit Workspace with pre – defined audit forms, work papers, work programs and checklists to record findings and observations; supports multiple simultaneous audit tasks, collaborative reviews and audit status tracking
Customized Audit Report Templates for Draft & Final reports generation with detailed data and audit history extraction and analysis through extensive, graphical dashboards and reports
Reviews & Approvals
Route Internal Audit findings to the appropriate managers for review, approvals and subsequent actions; trigger systematic investigation, follow up’s and corrective actions for all audit issues
WHY OUR AUDIT MANAGEMENT SOFTWARE?
Dedicated Central Repository to ensure effective synchronization of audit management to business procedures
Auto generation of all audit activities and workflows, with audit trails to track implementation at every step
Efficient implementation of audit process with structured workflows structure that help in setting priorities & enhance productivity
Auditing based on real-time collected data and supported documents, making the recommendations real time as well
Customized, automated – Draft & Final Audit Report generation with reviews, approvals and conclusion to the business units through validated workflows
Track progress on Audit findings & action plans through dynamic dashboard and user customizable reports
Built in, customizable – Audit reporting and graphical tools with extensive drill down features & anlysis
Rule based escalation on non-compliant processes that can be easily defined by the management.
Intuitive, dynamic & configurable dashboard for tracking Audit Statuses with extraction in presentation format
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