Module acts to help implement ERM approach
OpenPages has released a product for auditing risk management across the enterprise, OpenPages Audit.
Gordon Burnes, vice president of marketing for OpenPages, said: "With increasing regulatory, legal and operational risk management obligations for modern businesses, internal auditors face a mounting challenge as organisational risk profiles become increasingly complex. Audit departments are constantly being asked to do more with less. Traditional docu-centric software solutions, paper-based processes and even asynchronous electronic processes performed in silos lead to mounting inefficiency, which distracts audit from performing their core function - assurance and risk management. OpenPages Audit addresses these challenges for internal auditors today."
Steve Patterson, vice president, Internal Audit, DRS Technologies, commented: "Integrated audit management is more critical today than ever before. The assessment of risk across departments in modern organisations is a complex undertaking, one for which internal audit is in a unique position to add value as organisations take on the challenge of implementing enterprise risk management."
OpenPages said the product comes with the following benefits:
Provides users with the capability to conduct enterprise-wide risk assessments and risk rank the audit universe - by entity, process or risk or many other factors- according to audit methodology, with full reporting across the entire universe.
Allows users to track and manage audits, audit phases, workpapers and auditor allocations while automating operations.
Enables users to opine on management's ERM efforts independently and control access to confidential audits, fields and audit-only views.
Supports best of breed capability to manage workpapers online and/or offline as needs dictate. It also integrates fully with the OpenPages Governance Platform and product suite.