Solutions - Internal Audit

In today’s climate of increasing demands for governance and transparency, and available resources likely in decline, your challenges as an internal auditor have never been greater.  To cost-effectively address these increasing demands you need comprehensive, easy-to-use tools that streamline your audit processes, improve productivity, increase coordination with other governance participants and ease the growing pressures for accountability.

The Internal Audit software solution from Compliance 360 helps you easily tailor process to fit your unique requirements as you automate critical tasks throughout your audit planning, audit fieldwork, audit reporting and follow-up processes.  The system provides:

• A centralized repository of all audit plans, workpapers, audit workprograms, findings, reports and follow-up.  The Internal Audit solution improves visibility and control by serving as your internal audit system of record.
• Comprehensive audit plan management throughout the life-cycle of each audit, including resource assignments and workplan creation
• Automatic generation of audit workpapers directly from your workplans
• Complete meeting management with tracking of meeting agendas, attendance and minutes
• Audit task management with fully automated and customizable workflow
• Graphical reporting of audit activities, statuses, and results
• Documentation of recommendations, management responses and oversight of remediation projects
• Sophisticated capabilities for creating, managing and analyzing customizable surveys for any size organization

With Compliance 360, internal audits are centrally managed, tracked and reported

In addition to these robust features and capabilities, the Internal Audit solution shares a common platform and library of processes, objectives, risks, risk assessments and controls with other Compliance 360 governance, risk management and compliance (GRC) applications.  This integration within a comprehensive, unified set of GRC solutions helps to ensure that your Internal Audit team can work in concert with your Compliance and Risk Management groups and fully leverage their assets.  Key links include: 

• Integration with Regulatory Compliance and Policy Management:
  In many organizations, a large percentage of internal audits are focused on regulatory compliance, policies and procedures.  With the ability to link internal audits with policies and procedures in Compliance 360, you can streamline the job for Internal Auditors and promote collaboration.


• Integration with the Virtual Evidence Room™ linking all audits and findings to specific relevant laws, regulations, policies, surveys and incidents.  This unique integration significantly streamlines regulatory compliance audits.


• Integration with Enterprise Risk Management (ERM) including:
  • Annual risk assessments
  • Configurable scoring and prioritization using graphical heat maps
  • Streamlined set-up and execution of assessment questionnaires with reusable questions, response sets and question templates 
  • Documentation of control tests

Internal Audits are tightly linked to the Compliance 360 Risk Management solution to provide overall visibility and management of risks exposed in the audit process

• Integration with Third Party Risk Management:
  As organizations seek to reduce costs through the increased use of third party contractors, service providers and vendors, they need the ability to proactively verify compliance with regulations and guidelines to mitigate the potential for increased risks.  The Third Party Risk Management solution from Compliance 360 supports end-to-end management of the inherent risks of outsourcing, including proactive assessments, validation, contract management and incident management for individuals and organizations.  By including these risk management details in your internal audits you can proactively evaluate the effectiveness of your third party compliance and risk management programs.  Learn more


• Integration with Sarbanes-Oxley: For publicly traded organizations required to comply with the Sarbanes-Oxley (SOX) Act and privately held organizations seeking to maintain or improve their bond ratings, integration between the Compliance 360 Internal Audit and SOX applications is highly beneficial. You can link all SOX controls including monitors, compliance assessments and risk evaluations directly with targeted audits. Updates for the audit committee and board of directors are facilitated by a variety of custom reports.

Easily monitor the overall status of your internal audit initiatives and easily drill down into the details of each audit plan

The Internal Audit solution utilizes a common design, consistent throughout all Compliance 360 applications.   The Internal Audit solution is provided over the Internet as a highly secure online service using an industry standard method known as Software as a Service (SaaS).  For your organization, this means there is no expensive hardware or software to install or maintain. Online service implementations are much easier and faster, and the overall burden on IT is greatly reduced.  Many Compliance 360 customers are up and running in just a few weeks.     

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To learn more about internal audit software from Compliance 360 or schedule a demonstration please contact us