You can increase the efficiency and productivity of the enterprise audit process, including: engagement planning, scheduling, communication, audit procedure execution, issue management, report generation, trend analysis, committee presentation and audit work paper management. You can schedule projects and resources in such a way that there is a clear visual demonstration of personnel assignments and tracking of projects in an annual plan.

Audit Test Analytics extracts data from ERP systems such as SAP, Oracle E-Business Suite, PeopleSoft, and J D Edwards to improve testing effectiveness and findings across the enterprise in a single integrated solution. The FulcrumWay GRC Dataprobe™ collects audit samples from ERP systems and stores control evidence in FulcrumWay GRC DataHub™. Use interactive dashboards for real-time corrective action modeling and allow business managers to explore risk exposure in an ad hoc manner. You can easily access audit dashboards remotely over smartphone or any mobile device.

 

We enable Internal Audit teams to:

  •         Instantly analyze enterprise data for qualitative and quantitative risk assessment
  •         Detect control deficiency using intelligent audit analytics
  •         Close Issue-Remediation Loop with integrated enterprise reporting

Improve your audit plan effectiveness with a more rigorous risk assessment approach that includes a qualitative and a quantitative approach. You can periodically survey the managers to rate risks based on likelihood of occurrence and impact on the business. Implement a quantitative assessment program using probabilistic and non-probabilistic models by monitoring internal risk incidents, such as transaction errors and external risk incidents, such as loss events within your industry peers.

Analyze the scope and objectives of each audit engagement against the budget, timeline, and resources requirements to perform the audit. Ensure that the skills, experience, and technical knowledge of the resources assigned to the each audit engagement are appropriate for the planned activities before approving the engagement. Ensure that resources are deployed effectively to audit the geographically dispersed business units based on the risk ratings.