Audit Management

Platform X – Audit Management Solution provides an integrated risk-based approach to audit management process based on best practices recommended by Institute of Internal Auditors (IIA). Audit Management covers audit planning, risk assessments, audit projects, fieldwork, issue management, reporting and analytics.

The solution comes with pre-defined audit checklists that can be configured according to the organization’s business-specific needs. It helps the organization to manage audit programs, findings, and action plans, allowing auditors to track KPIs that drive continuous improvement.

Why Platform X - Audit Management

Enhance control over Audit lifecycles

Manage the end-to-end audit process by creating standardized workflows thereby establish a single system for all audit management needs

Improve collaboration across functions

Leverage industry-proven best practices that enable your audit team to collaborate and share data with colleagues across business, risk and compliance functions

Manage the business proactively

Gain visibility through aggregated data and analytics into key risks and under-performing controls with access to information, resources and results from risk and compliance teams.

Proactively manage Audit findings

User-friendly interface that allows you to capture and manage audit findings, communicate corrective actions effectively, and ensure compliance while mitigating risks

Capabilities

Audit Planning

Define comprehensive audit plans, objectives, scope, budget, criteria, and checklists thereby establish an overall audit strategy. Maintain a library of past audits, workflow templates, and risk and control matrices to reduce re-work across your audit activities.

Audit Scheduling

The solution allows organizations to schedule audits periodically or on an ad-hoc basis quite conveniently and efficiently by selecting the auditors and assigning a responsibilities.

Resource Management

Assign and manage resources. auditors for each audit project, track time and budget, and receive automatic updates.

Audit Execution

Capture qualitative and quantitative operational audit findings in pre-defined formats and measure the progress of audit execution in real time. It also provides advanced audit notification to auditors for appropriate execution.

Track Audit observations

The solution provides facility to track the audit observations with customized categorization like findings, best practices, recommendations etc. it also supports creating a workflow to address the recommendations until it is closed.
Consolidate all issues found across your audits to track remediation efforts by owner with scheduled follow-ups, reminders, and notifications.

Report and Dashboard

Generate draft and final audit reports in pdf and word format based on your organizations template. Gain real time access to audit data with status reports.