Streamline the Audit Process, Manage Issues Centrally & Deliver Actionable Information to Key Stakeholders
Increasing regulatory demands and expanding risk assessment responsibilities have placed a tremendous burden on audit departments to meet these challenges effectively. Not only must internal audit departments provide adequate assurance for the board and external audit -– they must do it cost effectively and with fewer resources.
Benefits of Rsam for Audit Management
Rsam helps automate and standardize key aspects of the audit process to increase efficiency and accuracy, reduce costs and deliver relevant information to key stakeholders. Rsam's comprehensive solution provides risk-based audit planning, scheduling, allocation of resources, workflow management, progress tracking, audit reporting and global issue and remediation management. Rsam drives collaboration across the organization by creating a central repository to manage audit findings from:
- Risk Assessments
- Controls Testing
- Unresolved issues or gaps
- Vulnerability scanners
- External auditor observations
- Centrally Manage Audit Finding – Centralized repository tracks audit findings from multiple sources such as risk assessments, controls testing, unresolved issues/gaps, vulnerability scanners, external auditor observations and many others.
- Perform Self Assessment Prior to External Audit Distribute – questionnaires & audit checklists prior to the audit. Preparing for the audit in advance helps focus auditors' time on the areas that require most attention.
- Define Workflow to Mirror Existing Audit Process – Dynamic Workflow bends to meet your most complex processes – not vice-versa. Map virtually every aspect of current workflow processes into Rsam. Upon completion, the process can automatically be passed to other users for review or additional input.
- Track Progress with Personalized Dashboards – Administrator dashboards track audit progress & provide constant progress updates of completed tasks and deadlines, sending customizable reminder emails when assessments fall behind.
- Identify Issues Centrally & Prioritize Remediation – Identify all issues from self assessments and other sources to prioritize and manage remediation activities centrally.
- Deliver Real-time, Actionable Reporting – Real time reporting delivers actionable information to key stakeholders. Unique "off-line decision" e-mails provide all the necessary information for senior management without ever logging into the system.