What is Internal Audit Management?
Internal audits are like pre-tests for organisations to evaluate their governance, risk management, and control activities before an external audit and also for internal checks and balances.
Setting up these independent and objective reviews can proactively catch gaps in your processes and guide your corrective action planning. Many organisations use internal audit management to boost their operations by acting as a line of defence after operational management and risk and compliance management.
How It Works
The Internal Audit Management Application is designed to help internal audit teams be as efficient and prepared as possible for any internal or external audit cycle. The app manages internal audits so your teams can proactively identify gaps and improve existing processes.
The application includes all auditable entities within your organisation, plus integrated workflows for audit risk assessment and audit and corrective action planning. Your internal audit team can internally assess, identify and report issues to prepare for future audits and ongoing reviews right within the environment of this pre-built application.
Why You Need It
- Independent assurance that audits will support the achievement of your organisation’s strategic objectives.
- Conduct control audits and allocate work or evidence requirements to your organisation’s relevant owners or stakeholders.
- Improve the effectiveness of governance, risk management and control activities.
- Use customisable, pre-prepared workflows to create audit programs and work plans, manage audit requests, documentation requests and your audit findings.