The internal auditor plays a critical role in guiding an organization toward an integrated governance, risk, and compliance capability. The internal audit function is expected to evaluate and improve the effectiveness of risk management, control, and governance processes. Audit managers are accountable for monitoring risks and ensuring compliance across organizational silos, reducing redundancies, and driving change while understanding an ever-evolving regulatory landscape.
REDUCE AUDIT ACTIVITY REDUNDANCY
Internal auditors know that significant and substantial overlaps exist among governance, risk, and compliance activities. Help departments and their consultants realize the inter-connections of their activities. Bring disconnected control, risk, and compliance initiatives — each with its own project plans and budget — together with a holistic strategy to better manage overall business and operational risks throughout the enterprise.
Use Ignyte to streamline activities across multiple areas of your enterprise (Finance, HR, IT, etc.). Assign activities once to apply to multiple frameworks. Follow up automatically on uncompleted tasks in the process and get an overall picture of the workflow along with performance metrics. Use Ignyte Assurance Platform™ to increase your team’s effectiveness across the enterprise and show real time reporting on key metrics.
STAY RELEVANT AND MAINTAIN INDEPENDENCE
Internal auditors must keep up to date with changes in the business and industry and focus beyond assurance. Audit managers should regularly consult on business process improvements and alert management to emerging issues and challenging scenarios while maintaining their independence. Ignyte’s automated control mappings help auditors stay current on critical new regulatory requirements. When a new requirement is released, the necessary updates are made to the affected controls instantly. Notifications with detailed explanations regarding the updates are distributed immediately to your teams.
LEVERAGE TECHNOLOGY AND DRIVE CHANGE
Ignyte will help ensure controls are appropriate, operate effectively, and address cyber risks as intended. Your resources will be using their time more efficiently. By providing an integrated view of the audit processes, Internal Audit will provide assurance to the board, and senior management that the entire system of governance, risk, and compliance is effective and high performing. Integrating your internal processes with Ignyte can lead to simplification and clarity in governance processes and benefit any organization.