unified and collaborative
For Audit, Risk and Compliance Management
Audit Risk and Compliance
Audit Analytics with interactive dashboards and reports use interactive dashboards for real-time corrective action modeling and allow business managers to explore risk exposure in an ad hoc manner.
Extract data from ERP systems to improve testing effectiveness and findings across the enterprise.
Establish an Enterprise Risk Management framework. Monitor enterprise risk and KRI’s to reduce frequency and severity of loss events. Take action in real-time. Perform root-cause analysis with ad-hoc reports. Reduce inconsistencies in procedures.
Make better decisions by adding context and perspective to data from multiple sources.
Compliance Manager enables you to reduce regulatory compliance costs and penalties. You can transform compliance “silos” into a single enterprise platform which results in lower testing time with standardized templates for self-assessment and management certification. Integration with ERP controls also enables you to streamline compliance with continuous controls monitoring.
Why do you need Audit, Risk and Compliance?
Business and Economic Risks
The global economic environment has become extremely complex, where risk can be rapidly heightened or diminished depending on geological factors. Companies face economic risks as they enter emerging markets or react to geopolitical risks such as the massive demographic shift. Auditors need better insight into new risks, to continuously monitor effectiveness of existing controls and to design new controls to mitigate untreated risks.
Technology and Data Protection Risks
Technological innovation is challenging business models that have been the industry standard. Consider the effect ride sharing has had on the way the taxi industry has been operating for decades or how internet-based streaming services have changed the way television programs are purchased and consumed. Auditors are being asked to assess technology risks such as cyberattacks on corporate data and business systems that enable significant enterprise processes.
Regulatory and Reporting Risks
Financial and reputational consequences of non-compliance with regulations is significant. However, the regulation standards are continuously being revised. Financial reporting guidance on the classification of revenue, leases, and measurement of financial assets is changing across the globe. In addition, disclosure of non-financial information beyond the traditional annual report is becoming critical to the audit committee’s reporting oversight mandate.