Do you have the right tools for the job?
Is your internal audit department still ‘just getting by’ with spreadsheets and file folders of MS Word documents? If so, chances are you aren’t connected to live ‘risk indicator’ and ‘key performance indicator’ information, and probably have little or no connection to risk and control self-assessment information, if any, produced by business units.
Even if you’re using an audit software package, it may be based on an older, traditional audit paradigm—where auditors are still the primary risk/control analysts and reporters, and work units do limited risk and control self-assessment.
Customer and stakeholder expectations have changed. Has your IA toolkit changed in response?
More and more, boards are expecting their internal audit departments to deliver an opinion on the reliability of the company’s risk management processes—all of them. Internal Audit should be asking themselves if they have the right tools to meet these new expectations, and—if the answer is no—which new tools from the myriad of software vendors are the right ones for today’s needs.
At Risk Oversight Inc, our senior consultants have specialized audit/ERM/SOX software experience, gained from owning and operating a global risk oversight software business for over a decade. They can provide the ‘insider secrets’ you need to make better software decisions.
Our experts can help you identify what’s on the market, what your specific ‘must have’ and ‘nice to have’ requirements are, and evaluate which vendor package, including maintenance and support, best suits your needs.
Time for a better approach in IA? Contact us today.