Problem:
Control testing procedures, results, and conclusions are scattered across various locations and file formats (e.g., spreadsheets, emails, workpapers, audit management applications, audit analytics tools, ERP systems), creating inefficiencies in data sharing, supervisory review, and version control.
Both the execution and the testing of controls are burdensome, and redundant test procedures cannot be easily identified and eliminated.
Many manual controls cannot be automated if they involve multiple systems that have no data integration with each other.
What do we build into EagleEye 365?
Data integration: built-in connectors to over 240 market-leading data sources, including both structured and unstructured data.
Centralized repository of control tests and results, which can be relied upon by all departments as a “single source of truth” for decision-making, management reporting, internal audit planning, faster regulatory attestations, and the external auditor’s reliance on tests already performed.
Benefit:
Automated testing, advanced analytics, and process automation (including custom-tailored RPA scripts) enable more efficient testing, reliability of test results, and continuous monitoring of each process’ risk profile in real-time.