GRC solution automates audit, control and risk functions

MEGA International introduced GRC Suite 3.0. This version is unique in its recognition of the overlap in audit, risk, and control activities; it offers a common platform through a global repository to centralize and coordinate all data relating to these areas in a single searchable environment that can be shared between departments, divisions, work groups, or committees.

The MEGA GRC Suite now includes three discrete solutions to meet the unique needs of various users, while ensuring integration into the common platform. The three solutions are:

• MEGA GRC Audit improves the productivity and information sharing capacities of the audit team by enabling a comprehensive view to be taken of annual audit planning, automation of follow-up recommendations, and centralized management of audit working papers.
• MEGA GRC Compliance and Control helps relevant managers across an enterprise comply with multiple, complex regulations at minimal cost and with maximum assurance that the company is maintaining effective controls and managing action plans for performance improvement.
• MEGA GRC Risk decreases the threat and cost of managing operational risks by coordinating the identification, evaluation, and control of risks, while integrating the different approaches of each organization. It provides a reliable, auditable record.

Each user has universal access to resources previously stored in silos, making it easier to avoid duplication of effort, eliminate inconsistent or outdated versions of data, and streamline overview reporting for senior management.

This software from MEGA International reflects the many changes in GRC organization and operations that have occurred since the emergence of new regulatory standards, such as Sarbanes-Oxley and Basel II. It recognizes the many diverse users (audit managers, compliance officers, internal control specialists, process owners, risk managers, and more) related to the broad corporate functions of internal audit, internal control, and risk management.