2011AUDIT MANAGEMENT SYSTEM      Enables you to automate the entire                Audit Process                          ...
Audit Management SystemObjective      Automation of planning, scheduling, execution, compliance management and closure of ...
Audit Management Systemi@AMS is built with different modules as mentioned below:                                    Empane...
Audit Management System                                    Process Module The process starts with the audit program       ...
Audit Management SystemAudit committee reports and reports required for statutory purposes can be generated fromthe system...
Audit Management SystemFeatures of the Audit Management System                   • After resources allocation, audit forma...
Audit Management System                                  Compliance & Closure AMT Controller: After submitting all the obs...
Audit Management SystemScreenshots of the i@AMS Application                                   *****                       ...
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IDBI Intech - Audit Management Solution

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A vital component in managing internal audit process. Helps plan, execute, and control the overall audit management process.

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IDBI Intech - Audit Management Solution

  1. 1. 2011AUDIT MANAGEMENT SYSTEM Enables you to automate the entire Audit Process Confidential
  2. 2. Audit Management SystemObjective Automation of planning, scheduling, execution, compliance management and closure of audits To provide a single and centralized repository for all compliance related data Version control for all audit work papers Scheduling & resource allocation for all types of audits EXECUTIVE SUMMARY The Audit Management Solution (i@AMS) Facilitating availability of audit formats for auditors covers the entire Audit department. It & auditees has been customized to suit Supervisor Approvals requirements of various banks/ financial entities globally. It has been Compliance workflow generically modelled on the Bank’s Facilitating Audit Closure audit program & covers different types of audits.Business Benefits Accelerates audit completion thereby decreasing costs associated with the process Consistently implements standardized audit processes across business units Automation of planning, scheduling, execution, compliance management & closure of audits – boosting efficiency & minimizing timeframes considerably Tracking of pending irregularities Provides a single and centralized repository for all compliance related data Provide a centralized view of the audit status. confidential 2
  3. 3. Audit Management Systemi@AMS is built with different modules as mentioned below: Empanelment Module Normally banks conduct their audit through internal aswell as external auditors. For banks to plan the audit program, it is essential for the planningdepartment to know the resources available at its disposal. The empanelment process helps inregistering these resources.The internal and external auditors can be empanelled by logging in through the website or byway of uploads. A system based process helps to accept/reject/blacklist the applicant.Planning Module Audit planning is the process ofscheduling the audits for different units and allocatingavailable resources to conduct the planned audit. Theaudit schedule is derived based on the following factors Type of audit Periodicity Duration Audit schedule Resource allocationThe system generates a plan based on the factors like risk rating during the previous audit,business size of the branch, date of last audit and banks norms for periodicity of audits. Theaudit planning department can then allocate the resources available from the empanelmentmodule for carrying out the audit. The system takes care of the vacancies such as leave of theresource, previous engagement of the resource etc. confidential 3
  4. 4. Audit Management System Process Module The process starts with the audit program being intimated to the auditor. The auditor gets reference ofthe earlier reports and the relevant circulars. The audit formats are also maintained in thesystem. The auditor conducts the audit and records his observations in the system. The reportis available to the unit head (auditee) who can respond to the comments. A corrective actioncan be taken without much delay. On completion of the report writing, it can be saved into thesystem. The alterations in the audit report can be made online and the same can be finalized.Compliance Module This module takes care of theresponse to the audit report and its verification by thecontrolling office. The final authority of treating the reportas closed rests with the controllers. In this module the auditor, auditee and the controllers can Respond to observations Review response Revert for confirmation Review with controller Close the report MIS Reporting A number of MIS Reports can be generated from the system. The bank management can review the trends for risk in the bank on the basis of the Risk ratings Size of the branches Branch wise Region wise Audit irregularity wise, and so on confidential 4
  5. 5. Audit Management SystemAudit committee reports and reports required for statutory purposes can be generated fromthe system. The reports and follow-up of pending irregularities can be easily done through thesystem. The archival of the old reports can be tracked from the system. The cost of the audit &productivity of the audit departments can also be tracked. The software contains Managementdashboards for the top management to get a unified view of the progress.Admin Module Normal admin functions are available inthe system. The system maintains a profile of the usersaccording to which the rights are assigned to them. Theusers get access to only the menus which are relevant and assigned to them. Similarly they canaccess only those reports which they are empowered to access. The menus in the adminmodule are User maintenance Organization structure Reference to circulars Library of forms Rating structures confidential 5
  6. 6. Audit Management SystemFeatures of the Audit Management System • After resources allocation, audit format generated by admin is available to the auditor for filling the observations and risk level • Auditor provides the observation along with the risk level and status Execution and submits to Audit Supervisor for approval. • On the basis of the score and risk level given by the auditor rating sheet is generated Rating • Provides the overall calculation score of the observations given by the Sheet auditor • Approve /modify / reject the observations entered by the auditor. Supervisor Approval • Admin can create Audit Format for different types of Audit • Format depends upon branch type, audit type, audit area and allots the Format rating, rating score and business risk level Creation • Generates a list of branches due for planning based on the last audit date and the business risk of a particular branch Planning & • Provides the next audit date and required man days to complete the man-days Scheduling Audit • Zonal head can assign an Audit Supervisor and AS in turn can assign auditor/s to a particular branch for conducting audit. Resource • Resources can be re allocated / swapped with existing resources if they re-allocated Allocation / are on leave or not able to attend the audit. Re-allocation confidential 6
  7. 7. Audit Management System Compliance & Closure AMT Controller: After submitting all the observations it will be shown to Audit Monitoring Team for sending Compliance alert to respective branch. Branch Head Compliance: - Audit Monitoring Team will forward the observations to Branch Head for compliance. The branch head will provide the compliance with respect to the each audit area. And after all the areas all compliance is approved; it is forwarded to the branch controller for the compliance. Audit Controller Compliance: - In this module the controller will approve /modify / reject / FACC (Final Audit Closure Compliance) the compliance with respect to each audit area. If the compliance is approved, the audit report will be forwarded for Audit closure. In case the compliance is rejected, it will flow back to the branch head. If FACC has to issued, then the points where there are irregularities will be included in the FACC report. FACC will be issued by the Branch Head. Audit Closure:-The audit closure process takes place when the controller receives response for all the observations from the Branch Head. confidential 7
  8. 8. Audit Management SystemScreenshots of the i@AMS Application ***** confidential 8

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