Increasingly, internal audit departments are being asked to provide greater assurance to the business that key processes, risks and controls are being managed in accordance with governance policies and best practices. However, gathering, processing and reporting risk data across multiple silos is a challenge.
Active Risk Manager (ARM) Audit Management provides a complete set of capabilities to support the planning, resourcing, fieldwork and reporting needs of corporate audit and quality management departments. With ARM, all audit documents are managed in a single location, audit reporting is automated, management actions based on recommendations can be tracked and shared with departments being audited and the effectiveness of the audit process based upon satisfaction surveys can be measured.
ARM streamlines the process of managing and conducting audits in a risk-based environment:
- ARM supports all types of audits, including internal, operational, IT, supplier and quality audits
- ARM enables management of the complete audit lifecycle including:
- Planning and scheduling
- Development of standard audit plans and checklists
- Field data collection
- Development of audit reports and recommendations
- Review of audit recommendations by those audited
- Management and implementation of audit recommendations and remediation
- Designed to match recommended audit management models
- Provides flexibility to support organization-specific processes and audit procedures
- ARM can be used either stand-alone or integrated with the full ARM Enterprise Risk Management solution
Active Risk Manager’s (ARM) Audit Management Solution allows audit departments to remain independent from core business processes.