Risk Based Auditing
The golden thread of risk based auditing is to identify which risks impact upon your business objectives and which controls mitigate those risks. You can then audit those controls to ensure they are effective.
Using Dashboards or the reporting suite, you can quickly identify which risks impact upon your business objectives and which objectives have the most risks connected to them.
By selecting your business objectives you can see the risks linked to those objectives. You can then see which controls are linked to those risks.
Incidents are also linked to risks so you can see if the business reported any issues that would indicate a potential problem or an area you might wish to examine further.
Control assessments can be scheduled to regenerate on a regular basis or created and issued as an when required. The individual assessment questions can be assigned to business manager or auditors allowing you to collect data from across the business.
You can also look at risks and controls that are linked to an audit entity. You can instantly see the current risk scores of those risks and the latest audit ratings of the associated controls.
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