AuditManagementSoftware
Audit management is the process by which an organization plans, conducts, and oversees audits to evaluate the effectiveness of controls, compliance with policies, and the efficiency of operations. It encompasses the governance, risk, and compliance framework that supports decision making and assurance for stakeholders. The scope can include financial, operational, information technology, compliance, and regulatory audits.
Key components of audit management include planning and risk assessment, assignment of resources, development of audit
The typical audit lifecycle comprises initiation, planning, fieldwork, reporting, and follow-up. Auditors produce findings with root
Standards and frameworks commonly referenced in audit management include The Institute of Internal Auditors (IIA) standards,
Benefits of effective audit management include improved risk mitigation, stronger internal controls, regulatory compliance, operational efficiency,