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Internal Audit
Provide robust governance
Internal audit plays a vital role within an organisation’s GRC framework, ensuring that policies, processes, and regulations have been adhered to. This governance role, when performed correctly, can significantly reduce risk within the organisation, enabling the business to focus on delivering value. So, it’s important to ensure that internal audit’s own practices are aligned with the firm’s GRC approach, and that internal audit information is shared with both risk and compliance.
Support internal audit activities
An internal audit team that is empowered with the right technology is more efficient, reducing the time and resources required to complete tasks and achieve goals. Internal audit teams are also better able to align their activities with the whole of the GRC framework, sharing information about risks, and particularly operational risk and compliance risk. aCCelerate GRC supports internal audit activities by enabling teams to:
- Manage audit issues efficiently – Define audit issue management workflows and alerts throughout the issue lifecycle to enable issues to be resolved in a timely manner.
- Connect audit issues within GRC – Link audit issues with risks, controls, and other user-defined criteria such as internal audit reports. Enable the organisation to see how audit issues relate to the GRC framework and risk appetite.
- Engage with the business – Assign multiple actions to the business, providing clear ownership for issue resolution. Enable a review by internal audit before resolution is signed off.
- Monitor issues and actions progress – Track the progress of internal audit issues and actions in real time through a dashboard configured to the organisation’s needs.
- Communicate about internal audit – Share reports – custom or out-of-the box – across the organisation. Schedule the reports or produce them on an ad hoc basis.
- Share audit information appropriately – Provide access to internal audit data, documents, dashboards and reports to the right people within the organisation through configurable permissioning.
- Create internal audit report templates – Enable end users with the right permissions to design the reports they need with the flexible dashboard creation wizard.
