October 25, 2011 | Palo Alto, California: MetricStream Inc., the market leader in Enterprise Governance, Risk and Compliance (GRC) solutions successfully demonstrated its Audit Management Solution at The Institute of Internal Auditors' (IIA) 2011 All Star Conference. Held on October 17th-19th, 2011 in Las Vegas, the conference was attended by leading experts and practitioners in the field of internal auditing.
Today, internal auditors are playing a key role in shaping business strategy. The insights that they have into risks and controls across the organization make them well-positioned to offer valuable strategic advice to the Board, Audit Committee and other stakeholders. But as risks and regulatory pressures increase, it has become imperative for internal auditors to step up their efforts by improving transparency into risks such as fraud, collaborating closely with other assurance functions, and improving the efficiency and cost-effectiveness of audit processes.
The All Star conference specifically addressed some of these critical issues. The event's 32 concurrent sessions focused on a wide range of topics such as strategies for excellence, emerging issues in risk management, organizational best practices, and prevention and detection of fraud. Renowned and respected keynote speakers shared their expertise and insights on varied subjects - from aligning internal audit's performance with management's expectations, to effective partnering with the audit committee. The conference also provided delegates the opportunity to network and interact with leading industry experts.
At the conference, MetricStream showcased its Audit Management Solution which is used by leading organizations worldwide to streamline, integrate and automate their Internal Audit programs. The solution provides a comprehensive framework designed to manage the complete audit lifecycle ranging from audit planning and scheduling to field data collection, development of audit reports and implementation of audit recommendations. The solution also provides the flexibility to support a variety of internal audits such as operational audits, financial audits, IT audits, supplier audits and quality audits.
Powerful dashboards and reports provide real-time visibility into risk and audit metrics, enabling internal auditors to make informed decisions, and provide valuable risk-based advice to the Board and other key stakeholders. The solution possesses advanced capabilities such as an audit advisor, auditor profile management tool, offline audit briefcase, automated alerts and centralized risk-control libraries that help internal auditors implement best practices for internal auditing, and integrate the audit process with the risk and compliance management systems. This closed-loop approach to internal audits eliminates redundancies, enhances collaboration, and promotes efficiency.
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).