Data silos and redundant administrative tasks hinder the progress of internal audit teams. Risk Cloud’s Internal Audit Management Application provides a centralized location to track and manage overall audit progress and accelerate audit cycles with connected and automated workflows.
How It Works
Kick off new audits with standardized planning forms and a dedicated location for storing related documents. Eliminate data silos to ensure accurate and timely information is used throughout the entire audit lifecycle with centralized audit, risk, and control repositories and built-in changelogs. Aggregate data by audit entity to create a clear and connected view of risk and audit readiness, so you can prioritize corrective actions before your next external audit.
Spend less time tracking down documents and emails with pre-built, configurable workflows that guide each step of the audit process, from annual planning to finding remediation. Seamlessly transition from one task owner to the next with automatic assignment notifications and deadline reminders. Accelerate assessment, testing, and remediation activities with easy-to-complete forms that provide relevant data from previous workflow steps. Automatically generate the documentation needed to pass your next control audit with Risk Cloud Documents.
Visualize key metrics like audit entity risk scores, reduction in high operational risks, budget allocation, and more in a single location. Bolster external audit readiness by referencing the latest and most accurate risk and control data with out-of-the-box reporting dashboards. Go a step further and configure reports to align with your organization’s auditing priorities — all without writing a single line of code.
Why You Need It
Minimize time spent on redundant and remedial tasks so that you and your team can focus on what really matters: analyzing, sharing, and taking action on audit findings. From annual planning to audit execution, Risk Cloud’s Internal Audit Management Application provides everything you need to:
- Centralize audit planning and documentation
- Accelerate audit cycles with workflow automations and improved collaboration
- Increase visibility of operational risks, control effectiveness, and remediation priorities