Internal Audit Management
Nimble. Proactive. Agile.
Internal Audit Management, made possible on the Connected Risk® Integrated GRC platform, empowers you to take control of your internal audit program. It’s all about aligning your audit goals with your organization’s objectives and making sure you’re well-prepared to handle risks from all angles. And the best part? You can do it all while maintaining the trust of all stakeholders involved.
With cutting-edge technology at your fingertips, you’ll be able to glean insights from data in record time. Internal Audit Management makes things easy, streamlines the process, and helps drive business performance to new heights.
We understand that the role you perform continually evolves as auditing adapts to heightened business disruption
Internal Audit Management from Connected Risk® serves, supports, and sharpens your focus in challenging and opportunistic times.
With our streamlined scope definition and collaborative electronic workpapers, your audit teams can maintain structure to their work, but with the freedom to apply creative thinking when presented with emerging risks, new business development, and other activities beyond routine processes. This is all on an open platform that allows secure distribution of your findings to maintain transparency and buy-in.
Internal Audit Management on Connected Risk® provides you with a single source of truth that provides infinite linkage capabilities, and in turn, increases data quality and knowledge sharing.
Internal Audit Management on Connected Risk® utilises enhanced drag-and-drop and powerful data mapping capabilities for creating additional taxonomies and linkages into neighboring risk areas.
Internal Audit Management on Connected Risk® is highly configurable and can help your teams:
Tailor-made, just for your organisation
Tailor the solution to meet your organisation’s growing regulatory needs
Evolve with regulatory change
Ensure evolving regulatory needs and internal policy updates are incorporated into the organization’s model inventory management.
Provide evidence with integrated reporting
Provide evidence of the latest taxonomies and relationships with our integrated reporting capabilities.
Expand with our RESTful API
Connected Risk® leverages RESTful web service endpoints that allow bidirectional integration of your data.
Empower your internal audit management practices with features designed to expand your Connected Risk® solution
At Empowered Systems we recognize that no two audit functions do annual risk assessments the same way, and that the businesses they serve are also unique.
Audit Management offers an out-of-the-box solution that delivers a configurable approach to risk assessment methodology definitions and provides access to our proprietary advanced data modelling, mapping, and workflow developer.
The strength of this offering is proven with our largest Tier 1 clients using it to develop dedicated risk assessment solutions from the ground up, processing over 300 updates per day spanning 10,000 to 20,000 touch points.
Audit Management allows for a work schedule to be appended without restriction. This enables your audit teams to quickly scope agile audits in response to business requests for expert independent reviews.
For example, to review a new business acquisition or joint venture, assess the impact of an emerging risk not yet captured in the corporate register or to evaluate the impact of market disruption on any part of the business that may be at risk.
All of this managed through robust version control and captured with a complete audit trail of changes to the audit plan made throughout the year, which can be clearly evidenced to all stakeholders and regulators.
With Audit Management, your audit teams’ fieldwork is streamlined as electronic workpapers are linked to multiple audit file elements, reducing the need for duplication. This capability allows for composite workpapers to be created, with test plans that can cover multiple controls, related to risks and processes. The workpaper is then linked to any audit findings, ensuring a robust and easy to navigate audit trail.
Your teams are also provided with checklists through which they can record test approaches and results, removing the need to create duplicate or intermediary workpapers, ensuring a more efficient and focused audit execution.
Connected Risk provides sophisticated integrated reporting that can be applied to all solutions that sit on the Connected Risk platform.
This capability provides a comprehensive and advanced business intelligence reporting capability that allows your teams to build and embed visually appealing and interactive reports on their Connected Risk dashboards.
The following are some of the key benefits:
- Centralize data designs and report management requirements
- Build data designs using Connected Risk elements
- Manage, publish, and organize reports to support the needs of specific user communities
- Enable users to reformat and filter reports to articulate specific insights and areas of focus
- Automatically extract reports to PowerPoint and other presentation formats
Export your charts to Excel, including the underlying data set, enabling additional reporting options
Your internal audit function is part of a broader risk ecosystem.
The Connected Risk platform, which underpins your solution, can draw upon this data using advanced data modelling and mapping capabilities that also facilitates a greater degree of standardization.
The solution maximizes the value these capabilities bring. We offer flexible assessment matrices that draw on data from any risk and compliance functions you choose to connect with. Based on the intelligence these connections provide, you can apply mid-cycle directional changes in your assessment plan to ensure it remains focused on what matters most at any given time.
Model risk management doesn't have to be complicated.
Talk to one of our experts
Fill out the form to the right to be connected to one of our Solutions Experts that can assist you with standing up a proof of concept or even working within your parameters to get a demo started for your group today.
Learn more about our Connected Risk® Audit Management solution and how it can manage the entire GRC lifecycle within your business.
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Expand and integrate your solution with
SOX Compliance Management
Improve financial reporting to meet regulatory obligations from SOX and similar global regulations.
Regulatory Change Management
Manage and change at the speed of regulatory change using a single source of truth.
Policy Management
Manage your organisation's policy changes with regular reviews and checkpoints.
Risk Management
Quickly identify, capture and manage multiple sources of risk across the enterprise.
Business Continuity Management
Monitor and manage internal and external threats to keep your business running.
Expand with the Ecosystem
Expand your Connected Risk® solution with our EmpoweredNEXT® partner applications.
"Powerful Platform For Compliance With Dynamic Regulatory Environment"
“The product is a powerful platform for regulated firms in the financial industry to comply with the ever-changing regulatory environment. The software helps my organization navigate rules and regulations, internal processes, and regulatory reporting requirements.”
Senior Associate, Finance Organisation with an annual return of $1-3BN USD
