SureCloud, a provider of Governance, Risk, and Compliance (GRC) solutions and Cyber Security services, launched its Internal Audit Management solution.
Combined with its tools for managing enterprise risk, IT risk and compliance, SureCloud now offers customers the ability to implement the full ‘three lines of defense’ as recommended in the Institute of Internal Auditors’ model for effective and efficient governance, risk management and control.
This widely used model is designed to coordinate risk and control management across the organization by mapping out responsibilities for day-to-day management (the ‘first line’), monitoring and oversight (the ‘second line’), and independent assurance (internal audit; the ‘third line’).
Internal Audit Management is a cloud-based solution designed to help organizations efficiently manage the entire audit process, from planning, risk assessments, and fieldwork to findings, issue management, and reporting.
With Internal Audit Management, organizations gain total oversight and visibility. Utilizing pre-built workpapers, workflow, and notifications, Internal Audit Management streamlines and accelerates audit engagements, removing the need for manual and repetitive tasks. Real-time reporting, with built-in business logic, helps organizations identify which areas are at risk so they can act quickly to mitigate them.
“We worked with our clients to understand their needs and designed a solution that will help any organization become more effective at managing its audit workload,” said Alex Brown, VP Product at SureCloud. “Organizations face an audit burden that is increasingly difficult to implement, execute and evidence to ensure they meet their regulatory requirements.”
“Too many still manage their processes inefficiently,” he continued, “using documents, spreadsheets, and email chains. Now, more than ever, it’s vital that organizations take an agile and streamlined approach to internal audit management that is fully scalable and flexible, enables accurate and comprehensive reporting and, ultimately, will support the business now and into the future.”