Data analysis is critical part of all Internal audit or internal control assessment engagements. Right kind of data analysis will identify the exceptions, outliers, mistakes, errors and even the process inefficiencies and ineffectiveness.
Data Analysis for internal audit is not about complicated algorithms or complex visualizations. But it is about multiple perspectives with ability to understand and identify the hidden exceptions or deviations. Results from robust data analysis will enable internal audit professionals to assess and make conclusions about overall effectiveness.
Apart from being able to visualize functional requirements, understanding how IT systems are configured to run the business and knowledge regarding where and how the data is organised in the system are essential for any successful data analysis.
With the synergy of our functional experience and technical expertise in SAP, our data analytics solution will help you to be efficient and effective.
Our solutions are designed to
Enable organisations to establish integrated GRC platform.
Simple but all-encompassing with standard internal controls framework mapped with various compliance & other risk management requirements.
Supported by centralized data analytics engine for immediate results, making it “ready to go” solution
Automate risk remediation process by using workflows, alerts, notifications etc.
CrisMo, Continuous risk assessment and monitoring solution enables you to select, plan, execute and review assessment results business process wise. Supported by data analytics engine, it can be used for internal audit, Risk management, Management by exceptions etc. It consists of following modules
I . Risk Assessment Module: Risk Assessment items (Internal control checklist items) are organized business process wise in our repository called - “Global Risk Matrix”.Risk Assessment items are categorized in to the following 4 control domains based on nature of controls
These Risk Assessment items are further classified as Informative, Indicative & Inconsistency based on the type of test conducted.They are mapped to various parameters like SOX, ICFR, Fraud Risk, Legal Risk, Internal Audit based on relevance.
Reporting is developed to enable review and monitoring and management by exceptions
II. Risk Remediation Module:
III. Data Analytics