Internal Audit Management Application

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What is Internal Audit Management?

Think of Internal Audit Management as the “third line of defense” within an organization after Operational Management and Risk & Compliance Management. The primary goal is for this independent and objective process to shed light on risks and implement corrective actions before an external audit is conducted. Internal Audits evaluate and improve the effectiveness of governance, risk management, and control activities.

Internal Audit Compliance in Risk Cloud

Risk Cloud™ is a cloud-based platform with a suite of pre-built Applications that transforms the way you manage GRC processes by combining expert-level content and service with easy, no-code technology.

The Internal Audit Management Application in Risk Cloud gives you independent assurance that you will meet your strategic objectives. The Application’s Audit Universe contains all of the auditable entities within your organization in addition to built-in risk assessment, audit, and corrective action plan workflows to help Internal Audit Teams achieve operational efficiency.

Improve Your Internal Audit Process

Improve Your Internal Audit Process

  • Streamline management and automate tasks associated with fieldwork and internal audit
  • Perform control audits to proactively identify gaps and assign work or evidence requests to the right teams
  • Automate due date reminders to ensure tasks are completed ahead of audit milestones and deadlines
  • Leverage the pre-defined Audit Plan Forms to actively manage audit work programs including audit-controls testing and fieldwork
  • Auto-generate reports after a controls audit with Risk Cloud Documents

Create a Holistic Internal Audit Program

  • Create a customized Audit Universe and accompanying audit plan
  • Centralize audit projects and risk analysis across the enterprise
  • Kick off risk assessments and audit plans as an organization
  • Report real-time visual dashboards to compliance leadership on audit status and findings
Create a Holistic Internal Audit Program
Get Prepared for External Audits

Get Prepared for External Audits

  • Assess, identify, remediate, and report on issues for internal use ahead of external audits
  • Maintain a central repository of documentation to be used as evidence
  • Track and remediate audit findings to strengthen maturity and manage findings ahead of external audits/repercussions
  • Build relationships with other apps such as the Risk Cloud control repository or Issues Management

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