Internal audits are like pre-tests for organizations to evaluate their governance, risk management, and control activities before an external audit and also for internal checks and balances.

Setting up these independent and objective reviews can proactively catch gaps in your processes and guide your corrective action planning. Many organizations use internal audit management to boost their operations by acting as a line of defense after operational management and risk and compliance management.

How It Works

Risk Cloud’s Internal Audit Management Application is built specifically to help internal audit teams be as efficient and prepared as possible for any audit cycle, internal or external. The Application manages internal audits so your teams can proactively identify gaps and improve your current processes. 

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. Your internal audit team can assess, identify, remediate, and report on issues internally to prepare for future audits and continued reviews right within this pre-built Application in Risk Cloud.

Why You Need It

• Independent assurance that audits will not obstruct your organization’s strategic objectives 
• Perform control audits and assign work or evidence requests to the appropriate owners or stakeholders across your business
• Improve the effectiveness of your governance, risk management, and control activities
• Use customizable, pre-built workflows to develop audit plans, audit work programs, audit requirements, documentation requests, and your findings