Audit Life Cycle Management:
Define and Manage Risks and related Controls
Track Control and Mitigation Strategy Owners
Automated Control/Risk Owners Certification Workflow Process
Analytics Dashboard and Reporting on status of Risks/Controls:
- Ageing since Last Test of Control
- Status at a glance (Effective and Ineffective Controls)
- Assigned Testers
- Load Balancing graphs/reports (to manage work load amongst your auditors)
- Schedule Status of assigned/unassigned Controls for Open Audits
- Slicing/Dicing by Type of Control, Entity, System, Process, Audit Type, etc.
Ability to define Automated Email workflows for each control that automatically initiate Data Requests and other tasks via email
Auto generation of pre-populated Work Papers (Tester Name, Control Activity, Control Owner, Testing Attributes, etc.)
Automatic upload of Work Paper status and results to the Central Database, which enables automated tracking and reporting
Web-form Work paper option
Work Paper Review workflow process
Findings/Exceptions/Recommendations Automated Reporting from Work Papers
Findings/Exceptions Resolution Owner assignment and Tracking Process
Custom Reports to support Board Reporting
Data Provisioning Platform is an Integral part of our tool
- Create automated feeds from your systems
- Pull data on an ad hoc basis to conduct analytics
- Connect to any ODBC compliant database, Spreadsheets, flat files, and a multitude of other data types
Continuous Controls Monitoring/Automated Analytics
Built-In Platform to support CCM Scripts that run automatically and continuously
Examples Include:
- Duplicate Invoicing, Master File Tampering, or other payables aberrations (catch before the check run)
- Revenue Leakage (Aberrations in POD”s, Order Entry, Billing, etc.)
- T&E Exceptions (Automates review of Travel and Entertainment Expense Reports to catch fraud, mistakes, policy violations, or “poor corporate citizenship” by not being frugal)
- Custom algorithms specific to your industry or company to catch process aberrations that harm quality and profits
- Automated SOD testing (generate near real-time notifications)
- Automated Email Alerts when exception occur to process owners or other desired personnel
- Dashboards and reports on exceptions and on metadata pertaining the exceptions, so you can see trends and problem areas/processes/people that require remedial action
We have many pre-written scripts, but our consultants can help you develop sophisticated analytics that leverage statistical techniques to solve a number of business problems impacting quality or profit.
(We also offer training in script development in SQL so your team can learn to develop their own analytic scripts)
Vendor Management
- Build automated Feed from Procurement System that triggers a Preliminary review when certain categories of spend are being quoted/RFP/Ordered
- Preliminary Review web-form to capture key drivers of risk (System involved, nature of data, Status of vendor, Certifications, etc)
- Preliminary Review results in a Risk Scoring process that suggests when a Vendor Assessment is recommended
- Support for collecting evidence from the vendor to support an assessment (when recommended), including a questionnaire based on the ISO 200713 framework
- Tracking of the status of such Vendor Assessments
Consulting available to help you create a comprehensive and robust Vendor Assessment process around this module