With the rise of corporate incidents and scandals, the number of regulations that an enterprise must comply with has increased. Internal audit departments are burdened more and more every day. The role of internal audit is changing. As a result, the internal audit department is increasingly involved with an organzation’s Governance, Risk and Compliance (GRC) management. Enterprises are shifting from a siloed approach to a more holistic approach to their compliance and risk management. This has driven the need for an integrated GRC platform to streamline internal audit processes.
Integrated approach to GRC
To meet these needs, BWise has developed Internal Audit as part of its GRC platform. BWise Internal Audit provides an enterprise 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 platform and its internal audit functionality enables organizations to streamline both risk and compliance process frameworks, and ease internal audit duties.
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. BWise has enhanced internal audit capabilities such as audit planning, audit scheduling and time-keeping for auditors and audit teams. Auditors can manage their work with a straightforward drag-and-drop interface that provides them with an intuitive and easy-to-use interface. BWise also includes Gantt chart functionality for audit scheduling, along with other internal audit capabilities such as resource allocation, issue management, audit workflows and extensive audit reporting.
Return on Investment
Internal Audit is provided as an integrated part of the independent analyst recognized BWise GRC platform. The integration with the BWise GRC platform ensures that existing documentation created in other BWise modules is re-used and not duplicated, creating profound savings and ROI.