Internal Audit

The role of internal audit is shifting in today’s environment. You have more visibility and more responsibilities than ever before, but you must maintain your independence – making recommendations is great, but executing them is not acceptable.

• Can you provide independent verification of control activities and compliance?
• Are you targeting the right areas of the enterprise?
• Do the business units respond in a timely manner?
• Has the audit committee asked for answers you do not have?

Whether your audit program is risk-based or traditional, you still need to review processes, perform tests, document findings and issue recommendations. Methodware’s ERA offers all the functionality of Pro Audit, with the additional benefit of a fully integrated risk management solution.

Automate your audit process – storing test scripts in the ERA library, scheduling the automatic distribution of management response forms, generating summary and detail reports for executives. ERA does all of this and more, allowing your audit team to focus on their analysis, not on process management.

Leverage risk assessments – using ERA allows you to access business unit risk assessments and control definitions. Take this information to point you in the right direction, or reallocate your limited resources where they can have the greatest impact.

Maintain privacy – security access is user-definable. Even if your enterprise uses ERA for both risk and audit, you can restrict access to audit data to a group or individual of your choosing, all the way down to the field level.

The audit profession continues to move toward a risk-based methodology. Use a solution that allows you to implement your own.