Active Risk Manager Audit Management Solution (ARM AMS) provides a complete set of capabilities to support the planning, resourcing, fi eldwork and reporting needs of corporate audit and quality management departments. AMS can be used either stand-alone or integrated with the full ARM risk management solution.

AMS meets both the specifi c needs of corporate internal auditors and the increasing demand to demonstrate effective compliance to government and industry regulations via ongoing audits. For organizations following quality standards such as ISO 9001 or those regulated by the likes of the FDA or FSA, regular audits are essential to ensure adherence to policy and to reduce the risk of non-compliance. Increased business complexity and the rising number and types of audits which companies need to conduct is driving the realization that point-solutions and spreadsheet-based systems are no longer suitable for managing internal audit programs.

AMS provides a comprehensive, enterprise-wide solution which supports all types of audits, including internal, operational, IT, supplier and quality audits. AMS helps manage the complete audit lifecycle including planning and scheduling; development of standard audit plans and checklists; fi eld data collection; development of audit reports and recommendations; review of audit recommendations by auditees; and management and implementation of audit recommendations and remediation.

AMS provides the capability for the strategic planning of audits and audit activities over multiple periods supporting a risk-based audit methodology. Audit work can be prioritized either using corporate risks assessments directly from the ARM risk management system, or where the process is not fully unifi ed with the enterprise risk process, by means of an audit-defi ned risk assessment model confi gured to support the chosen methodology.

AMS is designed to match recommended audit management models but with the fl exibility to support different processes and audit procedures. While these are largely standard in terms of the material stages of an audit (planning, resourcing etc.), most audit departments have variations of the document templates, report styles, audit categorization and data collected at each phase. AMS delivers the fl exible capabilities to meet these varied needs.

Advanced functionality includes built-in document workfl ows, audit resourcing, email-based notifi cations and alerts and the ability to integrate to the ARM enterprise risk management system. AMS supports either a tight or a loosely integrated association with the corporate ERM process depending on corporate policy. The software platform which AMS is built on, Microsoft SharePoint, is the same as that supporting the ARM risk management solution and so there are no technical integration issues.

ACTIVE RISK MANAGER

Audit Management Solution

AMS FUNCTIONALITY INCLUDES:

Audit Planning

Audit resourcing and scheduling

Working paper management, templates, document management and review and sign off workfl ow

Structured approach to fi ndings, conclusions and recommendations

Terms of reference, interim and fi nal audit reporting

Management actions and follow up

Email alerting and collaboration

Integration with Microsoft Offi ce products for analysis and reporting

Electronic questionnaires and control self assessment

Integration with ARM risk management

Enterprise Risk Management risk assessment methodologies and portal collaboration functionality such as electronic surveys, document management and the ability to deliver AMS functionality via corporate intranets allows audit departments to implement industry best practices for effi cient audit execution. By operating on the MS SharePoint platform, AMS also benefi ts from tight integration to other Microsoft Offi ce products such as MS Outlook and MS Word.

Through this functionality audit teams can set up new audit intranet sites simply themselves and can share new document templates for re-use by the entire team, create electronic surveys, store completed documents, develop contact lists etc.

Audit Management Solution © Active Risk Ltd. All rights reserved.

THE BUSINESS BENEFITS WHICH AMS PROVIDES INCLUDE:

A systematic and consistent risk-based internal audit process across business units, divisions, global locations and sites

Improved communication and teamwork on complex audit processes both within the team and across departments and functional areas

Increased effi ciency and re-use of audit information

Shortened audit cycle times

Reduced audit costs

Reduced audit errors and inconsistencies in management reports through the standardized data collection and analysis process

Enterprise-wide visibility into the audit process and data which enables better analysis and trend identifi cation

Enhanced ability for the audit process to support delivery of business objectives, especially if it is linked to the risk management process

Increased professional reputation and enhanced perception of value across the business.

FOR MORE INFORMATION, PLEASE CONTACT US:

info@activerisk.com+44 (0)1628 582500 (EMEA)+1 703 673 9580 (Americas)

www.activerisk.com