Reducing External/Internal Audit time!
Our IT Audit/Consulting Services is primary focused on reducing external/internal audit time for
- For 1st line of defense parties: We can reduce the on-site visits and requested requirements of Auditors (3rd line of defense) and or 2nd line of defense groups like Operational Risk, Compliance, Legal and so on by providing them:
- The correct and complete set of Risks: During a quick-scan or Risk control Self Assessment (RCSA) we primary focus on the businnes goals of the organisation and then we align/determine both the operational/business and the compliance risks statements and describe them properly like [Event that has an effect on objectives] caused by [cause/s]. This may result in [consequence/s] or e.g. the risk of ….caused by. (or due to)…leading to….. During the RCSA we can determine impact and likelihood outcomes for Finacial loss, Finacial statement and Reputational damage.
- The correct and complete control set according to the 5W’s and 1H approach (What, Why, Where, When, Who and How) for effective ToD (Test of Design) testing
- The correct and complete set of Evidence for effective TOE (Test of Operational Effectiveness) testing
- For 2nd line of defense parties: Basically the same as for 1st line of defense parties but then focusing more on the 2nd line oversight role, their responsibilities and the quality of their test results which 3rd line of defense parties can rely on: This is also reducing audit time! (see our operational risk management section: https://moralits.com/operational-risk-management/)
- For 3rd line of defense parties: Here we can support you by focusing in how we can automate the audits for faster, more accurate and complete findings and and analyses. Here we can also reduce a substantial time of auditing and at the same time be more complete and effective. (see our Automated audits section: https://moralits.com/homepage/automated-audits/