Understanding, experience and technology for success
The conference provided a forum for internal auditors to explore new opportunities, share best practices, and learn how to drive business value
September 30, 2011 | Palo Alto, California: MetricStream Inc., the market leader in Enterprise Governance, Risk and Compliance (GRC) solutions successfully demonstrated its renowned Audit Management Solution for Internal Audits at the IIA Annual Conference 2011.
MetricStream was also one of the sponsors of the conference which was held on September 27-28, 2011 in London. Organized by the Chartered Institute of Internal Auditors, the conference brought together the internal audit community from across the UK to network, learn, share and discuss the future of the profession.
Today, more than ever before, internal auditors are well-positioned to add tremendous value to the business. Their insights, gleaned from across the enterprise, can help organizations shape intelligent solutions and strategies to address some of the most critical business challenges. But to truly add value, internal auditors need to interpret, more than inform; and be proactive, rather than reactive. Continuous risk-based auditing is critical, as is collaborating with key stakeholders across the organization.
The IIA Annual Conference provided thought-provoking insights on some of these topical issues, as well as best practices and opportunities for internal auditors to enhance their relevance and contributions. Well-respected industry experts and thought leaders discussed how internal audit can position itself as a strategic partner, build credibility, develop relationships, and increase its influence in the business.
MetricStream showcased its market-leading Audit Management solution for Internal Auditors which has become a global benchmark for fully integrating internal auditing processes, information and data on a single platform. The solution facilitates a systematic and streamlined process for the entire internal audit lifecycle – right from risk assessment, to audit planning, to execution, to reporting, to issue management.
The solution also supports a variety of internal audits such as operational audits, financial audits, IT audits, supplier audits and quality audits. Restrictive functional silos are broken down in favor of enterprise-wide collaboration and integration, while cumbersome manual procedures and paper-based spreadsheets are replaced with automated processes and tools.
The solution enables a risk-based internal audit that is closely aligned with business objectives. In addition, advanced capabilities such as an audit advisor, shared calendar, auditor profile management tool, automated alerts and centralized risk-control libraries help organizations implement best practices for internal auditing, and integrate the audit process with the risk and compliance management systems.
Powerful dashboards and reports provide real-time visibility into risk and audit metrics, enabling internal auditors to provide valuable intelligence for strategic decision-making. Issues that are identified during the process are automatically routed by the solution through a streamlined process of investigation, resolution and closure.
MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions for global corporations. MetricStream solutions are used by leading corporations such as Pfizer, Philips, NASDAQ, UBS, SanDisk, Subway, Fairchild Semiconductor, Constellation Energy and Cummins in diverse industries such as Healthcare, Pharmaceuticals, Medical Devices, Automotive, Food, High Tech Manufacturing, Energy and Financial Services to manage their quality processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as by over a million compliance professionals worldwide via the www.ComplianceOnline.com portal. MetricStream is headquartered in Palo Alto, California and can be reached at www.metricstream.com.