Additional Module
Audit Management
By nature an audit function must be the most rigorous and accountable process in an organisation. An audit serves to confirm the reliability and consistency of information and processes in a company. Audits are undertaken to ensure compliance with stated goals, laws, and operational processes.
Financial audits are the most commonly known form but equally important are quality audits, operational audits, systems audits, integrated audits and continual audits. Audits can be performed internally or by a third party looking verify compliance with legislation or as part of a due diligence process as part of a merger or acquisition.
One of the most challenging tasks in an audit is to provide proof. fiCS captures all activity associated with the operation of a business, actions resulting from non- compliance to defined processes and corrective actions taken when variances are exposed.
As much of the mundane process is now automated reporting on compliance with stated processes is quicker, more reliable and allows quick and easy verification. The audit process far simpler and more thorough.
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Benefits: |
- Self definition of all business processes from root cause to effect, alerts and corrective actions with direct access to detailed documentation and images
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- Significant time reduction to complete audit
- Assessment standards are increased with improved and confidence
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- Real time notification of alerts and positive thresholds met
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- Audits can be used to support growth such as bonus payments based on measureable criteria
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- Template and schedule definition
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- Huge time saving for repetitive audits and allows benchmarking against historical performance speeding the evolution of business process
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- Automatic real time reporting (images, documents and summaries)
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- Time and cost savings are significant
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