Internal Audit Review of Risk Assessment

Industry: Public Sector

Solutions: Document Security, Document Generation

Automating internal risk assessment audits previously conducted manually via Excel to reduce errors and ensure completeness.

Digitizing the process to allow for real-time validation of entered information, thereby reducing errors and generating audit logs for future reference.

Improved accuracy and completeness of internal risk assessment audits, with reduced errors and comprehensive audit logs for reference.

Story

A financial institute automated an internal risk assessment audit. These audits are done regularly and originally were done using Excel. Each specific branch would receive their Excel file with items that they needed to review and then return back to head office. As this was a manual process often information was not entered correctly or completely lost. Digitizing this process reduced the number of errors as validation was done at the time the information was captured along with generating an audit log for future reference.