Revamping audit management with ASPIA

COMPANY

ASPIA helped one of India’s most prominent national banks in revamping audit management. Our team aided the client in enhancing the audit management process with automation, simplification, and suggestion of effective remediation ways.

CHALLENGES

  • Employee duties overlapped during the traditional complex form of auditing
  • Audit processes are time-consuming and driven by distributed tools and resources.
  • Poor visibility due to lack of insights, manual audit tools, and spreadsheets.
  • Managing and tracking multiple rounds of audits in a year is quite difficult.
  • Long and recurring procedures of tracking and taking follow-ups at all audit stages.
  • Difficulty in developing collaboration during audit employees work on separate levels.
  • Difficulty in ensuring thorough completion of audit assignments.

SOLUTION

  • Simplification of audit lifecycle throughout the client’s company.
  • Unified platform to manage the audit and conduct risk analysis.
  • Streamline audit process with manageable audits and granular security insights whenever necessary.
  • Flexible scheduling and assignment of different audit items to respective stakeholders.
  • Implement end-to-end audit management from planning, scheduling, and tracking the process in real-time to reporting.
  • Enhance collaboration by standardizing the entire audit process from a unified dashboard.
  • Store the audit evidence, and reports in the centralized dashboard, and retrieve documents when needed from the ASPIA data store.

RESULTS

  • ASPIA maintained a productive audit lifecycle and ensured uniform distribution of duties amongst employees.
  • Delivered a simplified integrated, automated, and agile approach to audit planning, scheduling, and management.
  • Comprehensive audit reports delivered from the ASPIA dashboard maintain consistent quality by overcoming error-prone manual assembly of critical report data from paper records, and spreadsheets.
  • ASPIA ensures automatic scheduling of recurring audits throughout the year to ensure audit compliance with ease.
  • Improved audit collaboration by connecting employees of all levels via the centralized ASPIA dashboard.
  • A centralized, integrated way to collect and manage audit evidence to make you audit-ready at all times with ASPIA.

ASPIA helped in revamping audit management process with automation, simplification, and enabled the client to take immediate actions to resolve the potential issues based on real-time process tracking and insights.

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