Internal Audit Management App
The MetricStream Internal Audit Management App accelerates audit cycles, improves audit strategies, reduces audit costs, and enhances auditor productivity. Rich operational and management reporting deliver transparency and risk-awareness, enabling better decisions.
Manage end-to-end audit processes more efficiently with the MetricStream Internal Audit Management App. It enables a systematic workflow-driven, risk-based auditing process, simplifies work paper management, and provides real-time intelligence and reporting. The web-based app has a responsive interface that allows auditors to enter data on the go from the convenience of their tablets and mobile devices.Download Datasheet
Deﬁne and maintain the audit universe, including auditable entities (such as business units, functions, and processes) and common libraries of risks and controls as well as manage their relationships. Update the audit universe and libraries on a periodic basis based on changes in the organization’s business, operations, programs, or systems.
Document, manage, and assess risks across the organization leveraging a centralized risk framework. Get visibility into the risks associated with auditable entities, along with previous audit history with Audit and Risk Advisors. Enable efficient planning of audits, focus on key risk areas, and optimize available resources.
Create audit plans with a defined objective and scope. Organize audits in a logical structure and hierarchy with detailed checklists, evaluation pass or fail criteria, and tasks for execution. Schedule audits and assign tasks to the audit team members.
Leverage the app’s powerful project and resource scheduler, as well as profile management tools to store auditor profiles, check resource availability and conflicts, and allocate appropriate personnel to audit projects.
Capture the time spent in auditing through the app’s time-tracking capability. Plan audit activities efficiently through Gantt Charts and timesheet reports which provide comprehensive details on audit schedules.
Record findings, detailed observations, and recommendations, in pre-defined formats or work-papers. Attach supporting evidence, configure checklists, and cross-reference work papers and other documents.
Send findings and recommendations to auditees for their review and feedback. Enter audit findings offline in notebook computers and other handheld devices, even at remote ﬁeld sites with no access to the organization’s network.
Identify and document audit issues. Prioritize and assign resources for investigation and remediation with an underlying workflow and collaboration engine. Define an action plan, and track the remediation process and issues to closure.
Generate draft and ﬁnal audit reports with review and approval workﬂows in a conﬁgurable format. Pull together findings and actions from various tasks to generate the draft report.
Get real-time access to audit data and history and analysis of audit results with audit status tracking reports and dashboards.
- Leverage built-in best practices and industry standards
- Enable a streamlined, consistent, and risk-based audit process
- Strengthen collaboration on audit activities across the organization
- Accelerate the audit cycle and ensures efficient utilization of audit resources
- Gain organization-wide visibility into audit processes and data
- Monitor issues and recommendations to closure
- Ensures strong alignment with ERM and Other Assurance Functions
At TPDC, we look to integrate risk management into our day-to-day activities.
MetricStream Internal Audit Solution
Companies are increasingly relying on internal auditors to uncover organizational discrepancies, provide early warnings of issues, and advise the management team on performance and strategy. As a result, the scope and complexity of internal audits are steadily growing.
The MetricStream Internal Audit Software Solution makes things simpler by providing a single point of reference to conduct, track, and manage internal audit activities and data. The solution strengthens audit consistency, communication, and coordination. It also provides features such as email-based alerts, risk assessment methodologies, time-tracking capabilities, and an offline audit briefcase which help you get optimal value out of your internal audits.