Share On

  As we cruise through the age of information technology, business processes have become more and more complex; all businesses adopt the most sophisticated tools in making their businesses efficient and productive. In the midst of these complexities, the auditing of such processes has become a challenging task, thus making audit management a serious necessity.

        Audit management can be defined as a set of tools; techniques and planning that enable an organized examination of whether an object meets the predefined requirements. To put it more simply, audit management helps in the better organization of the workflow and collaborative process of audit reporting. It is an eclectic management of auditing involving the preparation of a detailed question list and evaluating the results and documents. Auditing management broadly involves the process of recruiting, training and overseeing the audit staff (internal and external) and running the auditing program.

     Some of the important elements that make audit management successful are proactive and strong leadership, cohesion within the team, intricate planning, controls and a well-defined methodology. The process of managing an audit comprises of three dimensions, namely internal auditing, external auditing and third-party auditing.

Internal audit management: It refers to a set of auditing processes which the organization sets up in order to protect it from fraudulent activities and ensure that the organization’s management and control are running at their optimum. The role of internal auditors is to be objective, neutral and report any issues only to the highest executive in the organization.

External audit management: It is the organization of auditing processes in order to determine whether the documentations filed are accurate and meet the required standards set by the organization or meets the government laid rules and regulations. The external auditor is independent of the firm is able to provide a more objective report and use the discretion in reporting to the concerned authorities in case of a breach.

Third party auditing: The question of third-party auditing arises only when the company intends to run a quality management system to meet or qualify for the desired certification.

     Computation technology has also spread its wings in the direction of audit, leading to the coming of sophisticated audit management software making audit management more efficient. With the coming of software that is accessible anywhere in the globe, the process of audit management has reached a new pinnacle with every country able to audit at the highest level. Some of the best-rated softwares in India are Self Expert Software, Risk Pro Internal Audit Management Software, Audit Management Software and Control Case Audit Management Software. 

      One of the best-rated software in the world is Gensuite Audit Management Software. With a rich experience of twenty years in audit management applications, Gensuite provides proven applications to help companies achieve excellence in compliance and management.

       The up to date development of auditing software have come to provide necessary relief and efficiency in audit management, making auditing a simple and desirable activity.

 

An Insider's Guide to Easy SAP Audits

White Paper By: Revelation Software Concepts

SAP Audit Management helps to detect and correct risks to proper governance. The key to exception-free SAP audits is to maintain complete records and eliminate possible threats to record integrity. When auditors see you’ve done that, SAP audits become just another part of the normal IT process. This whitepaper on “An Insider’s Guide to Easy SAP Audits,” is a...

Using Microsoft Office365 and SharePoint With Secure Audited Controls

White Paper By: Storage Made Easy

Microsoft SharePoint and Office365 are one of the foremost deployed Intranet and Internet solutions for document collaboration in the world. By Adding a ‘Cloud Control solution’ to SharePoint & Office 365 environments, you can enjoy the following benefits: Secure files: Improve security of corporate SharePoint/Office 365 data Track use: Audit Watch on...

Secure Audited Email File Sharing

White Paper By: Storage Made Easy

Secure File Transfer over email  Reduces the Risk of Intercepted Information. Perfect Secure audited email file sharing solution is required to send, receive, track, monitor, and audit all of your confidential files. When selecting an EFSS solution you should look out for enterprise grade solution that can secure audited business file sharing from almost  any private  file...

Four Steps to Building a Global Supply Chain Risk Management Platform

White Paper By: PICS Auditing

Four Steps to Building a Global Supply Chain Risk Management Platform Managing global supply chain risk is difficult, as these risks range from the minor "bump" in the road to a company disaster. With the right proactive approach these risks can be mitigated and even eliminated. Do you want to identify and understand the possible causes, and direct and indirect effects of...

Specialty Lines Underwriting:Achieve Profitable Growth Through A Collaborative Underwriting Infrastructure

White Paper By: Appian

An underwriting infrastructure where speed, risk and return are in balance is the groundwork for more consistency in underwriting profitability and growth. However, the potential challenges to specialty insurance market growth are more intricate and challenging. In order to drive underwriting profitability and growth, you can have a vivid glimpse of the recent trends and developments in...

MiFID II / MiFIR Transaction Reporting: A Practical Guide

White Paper By: Duco

One of the main criticisms of the original MiFID was that national regulators did not enforce the directive with the same zeal across Europe. The list of financial instruments covered has been extended to almost all instruments traded in European markets – with particular emphasis on the OTC derivatives market that was previously out of scope for MiFID I. The issue with making this...

follow on linkedin follow on twitter follow on facebook 2018 All Rights Reserved | by: www.ciowhitepapersreview.com