IAM – Internal Audit Management

Overview

Internal Audits are investigations which primarily evaluate the processes for fulfilling requirements and guidelines. They are conducted by internal auditors and take place in irregularly planned intervals or in a case of doubt. After an Internal Audit has been completed, an periodic and scheduled audit planning takes place in which the discoveries are recorded and processed to ensure an optimal follow-up process.

Challenges

Organizations today are required to comply with an increasing number of regulations, policies and procedures. This drives the need for ongoing auditing in organizations. The traditional regulation/policy/procedure-specific audit software solutions have become less effective, as they are not integrative and hence can create inconsistencies and even contradictory audit processes. Executive officers are specifically required to demonstrate effective internal audit practices, and to ensure corporate transparency and visibility into the business. The internal audit process is continuous and needs to be repeated periodically and closely monitored. Management is personally responsible for an adequate level of internal audit, and this responsibility requires significant management attention and allocation of time and effort.

GOLDENHORN eGRC IAM

The GOLDENHORN eGRC Internal Audit software is one of reliable solutions in the GRC market that provides a comprehensive and integrated framework for managing internal audits in a multi-subsidiary environment. The Internal Audit Management enables enterprises to define audit plans, assign audits to designated auditors, schedule audits, collect audit results, document recommendations, manage remediation plans, and present summarizing dashboards of audit outcomes for each subsidiary.

The GOLDENHORN eGRC Internal Audit Management supports all types of audits, including internal audits, operational audits, and IT audits. The GOLDENHORN eGRC IAM is aimed at efficient audit execution and ensures integration of the audit process with the risk and compliance management system. With our MultiTenant technology, multi-subsidiary organizations can now manage their internal audit efforts centrally within an easy and flexible environment.

You can use Internal Audit Management as a standalone GRC solution or integrate it in GOLDENHORN eGRC with existing submodules for e.g. Operational Risk Management, Internal Control Management, Compliance Management etc. Since the methodology is aligned, data from cyclical internal audits and acyclic ones are seamlessly integrated. This generates a greater scope of information and a better foundation for making decisions regarding changes.

Creating custom reports is considerably simplified with GOLDENHORN eGRC.

Benefits

• Support of the complete internal audit management process
• Flexible internal audit planning and scheduling
• Implement complex approval processes with dynamic cases and workflows
• Remind contributors to complete measures
• Use vast capabilities to present insights gained through internal audit management
• Visualize extracts from current internal audit data graphically at any time
• Generate individual reports for different target stakeholders

Features

• GOLDENHORN BPM process workflow-driven dashboards with information on current internal audits and tasks
• Internal Audit control and test model registers
• Internal Audit allocation planning
• Flexible authorization system based on roles and groups
• Tracking for measures, internal audit findings, reviews and action requests
• Collection of various information such as costs, time spent, responsibilities or criticality for individual measures
• Flexible reporting

 Solutions

Thanks to the modular configurations of GOLDENHORN eGRC IAM with different submodules and features:

• Internal Audit Knowledge Management System
• Internal Audit Case Management – Engagement Management
• Internal Audit Case Management – Request Fulfilment
• Internal Audit Planning Management
• Internal Audit Scheduling
• Internal Audit – Operational
• Internal Audit – Compliance
• Internal Audit – Financial
• Internal Audit – Follow up
• Internal Audit – Vendors&Suppliers
• Internal Audit – Management (Performance)
• Internal Audit – Investigation
• Internal Audit – External Service Provider
• Internal Audit – Bank Branch Office .Internal Audit – IT
• Internal Audit – FirstLevel Assurance (Self Assurance)
• Internal Audit Testing Management
• Internal Audit Finding Management
• Internal Audit Performance Management
• Internal Audit Financial Cost Management
• Internal Audit Integration for Sampling Internal Audit Analytics and Reporting