Internal Audit
With the rise in the number of incidents and scandals, the local and international regulations that organizations need to comply with is increasing and the pressure on the Internal Audit department is becoming higher every day. The role of internal audit is changing and one of the results is an increasing involvement of the internal audit department within Governance, Risk and Compliance (GRC) projects. Companies are shifting from a silo approach to a more holistic approach to GRC, which drives the need for an integrated software solution to streamline all these processes.
Integrated approach to GRC
To meet these new market needs, BWise has developed an Internal Audit module. BWise Internal Audit seamlessly integrates with the BWise GRC platform. BWise Internal Audit provides customers with the ability to detect fraud and reduce risks by ensuring the proper design of controls and their performance. The combination of the entire BWise GRC suite and the new Internal Audit module enables organizations to streamline both risk and compliance process frameworks, and ease internal audit and business management.
BWise Internal Audit
BWise Internal Audit includes a secure audit environment for protecting sensitive information from unauthorized users, audit working papers that can be re-used from audit to audit, and a set of audit best practices. It also includes capabilities such as: audit planning and scheduling, resource allocation, issue management, audit workflows and extensive audit reporting.
Return on Investment
In addition, the BWise Internal Audit module provides organizations with a uniquely integrated GRC solution that will lead to a clear Return on investment (ROI). The integration with the BWise GRC platform ensures that existing documentation created in other BWise modules is re-used and not duplicated, for example, process maps, risk and control frameworks, and policies and procedures.
