The Audit management System enables to allocate the right resources for audit programs and helps to recruit and train appropriate audit personnel. The staff should have the necessary skills and expertise to identify inherent risks of the business and assess the overall effectiveness of controls in place relating to the company's internal controls. The Audit Management System developed at IDBI Intech is designed to help organizations manage a wide range of audit-related activities and processes in a single and comprehensive framework. This software provides the flexibility to support all types of audits, including Internal Audit, Concurrent Audit, Information Security Audit, Credit Audit (Account based), Snap Audit and Management Audit. AMS caters to the requirements of major organizations in India and abroad. The solution is GRC compliant (Governance, Risk, Compliance) to meet corporate strategy, risk management and control initiatives in organizations.
Frequently Asked Questions (FAQs)
Audit Management process involves managing the complete audit lifecycle - from development of standard audit checklists, audit planning and scheduling, audit execution, development of audit reports and recommendations, audit compliances, review by Auditees and Management, and implementation of audit recommendations.
The Audit Management System developed at IDBI Intech is designed to help organizations manage a wide range of audit-related activities and processes in a single and comprehensive framework. Also it enables organizations to improve quality, reduce costs, and recognize risk across the entire audit lifecycle in a single and comprehensive application, helping improve compliance and operational efficiency.
Any process or quality system is auditable to ensure compliance to the requirements. An audit can apply to an entire organization or might be specific to a function, process, or production step. Some audits have special administrative purposes, such as auditing documents, risk, or performance, or following up on completed corrective actions.
The solution is GRC compliant (Governance, Risk, Compliance) to meet corporate strategy, risk management and control initiatives in organizations.
The solution provides a single framework for all audit actvities and supports complete Audit Lifecycle Management besides being compliant with the GRC norms.
This Audit Management application provides the flexibility to support all types of audits, i.e. Internal Audits, Concurrent Audit, Information Security Audit, Credit Audit (Account based), Snap Audit and Management Audit.
Yes, there are maker-checker approvals at each level and automated generation of rating sheets. The solution also has a Centralized Repository for all Audit reports and l Compliance related data. Also there are in-built MIS Reports and Dashboards in the Audit Management Application to provide updated status and information to the concerned stakeholders.
Yes, the application has tools for planning, scheduling, resource allocation and execution of various types of Audits.
Built-in Maker checker and audit trails are available. There is provision for tracking of pending irregularities and automated email alerts are sent to stakeholders from commencement till the end of audit.
There is facility to upload documents and annexures pertaining to every audit carried out in the Audit Management System.
