Audit Management
Effective risk management and compliance with government regulations drive the need for ongoing auditing in organizations. For companies that are regulated by the FDA or are following quality standards such as ISO 9000/14000, regular audits are also essential to reduce the risk of noncompliance. With increasing business complexity and the rising number and types of audits that companies need to conduct, companies are realizing that point-solutions and spreadsheet-based systems are no more suitable for managing internal audit programs.
MetricStream Audit Management software module is a comprehensive application designed to help companies manage a wide range of audit-related activities, data and processes. The audit management software provides the flexibility to support all types of audits, including internal audits, operational audits, IT audits, supplier audits and quality audits.
The Audit Management system provides end-to-end functionality
for managing the complete audit lifecycle including audit planning and scheduling, development of standard audit plans and checklists, field data collection, development of audit reports and recommendations, review of audit recommendations by auditees and management and implementation of audit recommendations and remediation.
Advanced capabilities like built-in remediation workflows, time tracking, email based notifications and alerts, risk assessment methodologies, and offline functionality for conducting at remote field sites allow organizations to implement the industry best practices for efficient audit execution and ensure integration of the audit process with the risk and compliance management system.
- Systematic and workflow driven audit process across the enterprise with standardized data collection to eliminate audit errors and inconsistencies
- Closed-loop audit cycle for recording findings, developing recommendations and implementing action plans
- Complete visibility into the audit process and metrics for better risk management and assured compliance
- Higher efficiency of the audit staff enabling them to be focused on value-oriented functions such as analyzing and recognizing trends in the audit data
