Internal Audit departments are well positioned to make the vast amounts of data they derive from data analytics, risk based analysis and business improvement analysis visible to the business.
Often this knowledge and data is “hidden away” and only surfaces in audit plans and audit reports.
For example: Assume the company has 500 branches and limited resources to do all its audits. Auditors would often do a broad based risk assessment of key indicators that range from sales, cash deposit frequency, number errors, numbers of shorts/overs. This results in a risk rating of the stores and which stores the auditor should focus on. If this is done monthly then you have a changing situation where different stored will rank.
The challenge is that knowledge is often not presented to the business. The business typically has to depend on BI Systems which are often operational focus and more about measures and ratios (eg: sales figures)
Executive and Management could benefit vastly by having this insight that Internal Audit has.
This is what the Satori Audit Data Visualisation Dashboard Solution is all about – making the knowledge and information available to Audit visible to the key users in a relevant format.
Dashboards are all about highlighting the exceptions and where attention should be given.
The Audit Dashboards are a series of Audit related dashboards that are ready to deploy showing this knowledge to the business. This can be deployed via a browser or mobile device. The solution is powered by ACL, the leading data analytical engine, and Dundas Dashboards, the top data visualisation dashboard.
The Audit Dashboards solution enables data to be extracted on a regular frequency (hourly, daily, weekly, as deemed necessary) to dynamically and automatically update the dashboards without IT involvement or manual processes.
It is all about making the insights and knowledge of Internal Audit available to the business. Also giving audit the agility to change as the business changes without impact operations needs. It gives Internal Audit the independence and the ability to create what Internal Audit uses and makes available to the business – but in a secure and controlled manner.
The Audit Dashboard Solution covers the areas of :
- Risk based Sales Analysis
- Accounts Payable
- Vendor Master File
- Employee Master
- Payroll Data
- Purchase Card Data