April 04, 2011 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk and Compliance (GRC) solutions, today announced its participation in the 51st Annual Seminar of the Chicago Chapter of the Institute of Internal Auditors. The event will be held on 4th April, 2011 in Rosemont, Illinois. Approximately 1,000 internal audit, finance and risk professionals are expected to attend.
Back in 2004, Bruce Nolop, CFO of Pitney Bowes told CFO magazine,“Internal Auditors are rock stars now. This is their day in the sun.” Seven years later, the sentiment still holds. Internal auditors are playing a key role not just in monitoring controls and risks, but in communicating with stakeholders, providing strategic insights and improving business processes. Boards of management are relying on them to ensure that policies are being complied with, controls are functioning effectively and risks are being mitigated.
While the new role of internal audit is promising, it is also challenging. Auditors have to expand their roles and functions, and cope with increasing expectations while also dealing with budget cuts and diminished resources.
The IIA Chicago Chapter Annual Seminar will cover some of the key concerns of internal auditors. It will also discuss tools and best practices for efficient, value-driven audit processes. Highlighted topics include fraud, information technology, emerging issues and trends, and the future of audit.
MetricStream will be showcasing its Audit Management Solution at the seminar. Chosen by leading companies across the globe, MetricStream Solution is renowned for its innovative capabilities. The solution consistently demonstrates improved results in compliance, risk mitigation and control management.
MetricStream Audit Management Solution streamlines the management of the complete audit lifecycle - right from audit planning and scheduling, to field data collection, to reporting and review, to implementation of audit recommendations. The solution supports a variety of audits including operational audits, internal audits, financial audits, IT audits, supplier audits and quality audits.
Unique offline capabilities enable audits to be conducted at remote field sites. Subsequently, results are seamlessly integrated into the main database. Executive dashboards with drill down functionalities provide complete visibility into audit management workflows. They enable auditors and management to gain quick, enterprise-wide insights for strategic assurance and decision-making.
MetricStream solution automates end-to-end workflows, provides regulatory notifications when required and contains best practices for efficient audit management. The solution is also equipped with a centralized information repository for easy storage of and access to audit results, control assessments, company policies and other documentation.
MetricStream Audit Management Solution helps establish a systematic, workflow driven audit process, enabling auditors to focus on more value-driven functions such as analyzing audit data and making beneficial recommendations.
MetricStream is a market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions. MetricStream solutions are used by leading global corporations in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-tech and Manufacturing to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and other corporate governance initiatives. MetricStream’s customers include Procter & Gamble, UBS, Societe Generale, Pfizer, Philips, Cummins, Kellogg’s, Mondelez International, SanDisk, and NetApp. MetricStream also owns and operates the www.ComplianceOnline.com portal - the largest GRC advisory network and one of the largest GRC communities. MetricStream is headquartered in Palo Alto, California, USA (www.metricstream.com).