MEGA Audit provides support for executives and auditors, by giving them the means to successfully complete audit projects. It offers predefined processes and functions, resulting in higher productivity and better quality.
MEGA Audit Overview
To help companies get the most out of their internal audit programs, MEGA Audit provides support at all levels and across the entire audit process, and adapts to any size audit department.
The underlying platform enables information sharing and data exchange with the other tools in the MEGA Suite.
Find out more about our Internal Audit solution.
Main Features
Preparation phase: Test planning and preliminary survey
Audit mission planning is carried out using previous audit results. Plan approval extends to all entities, processes, and risks of the organization. Scheduling can be graphically edited in Gant charts, where data and time periods can be directly entered and changed. The skills and availability of auditors are recorded for staffing purposes. Classification can be carried out according to SOX 404 analysis.
Implementation phase: Information collection and analysis, report preparation and generation
Work schedules are automatically generated, while tests (using questionnaires) and results can be directly prepared and filled out in the solution. Results are automatically checked for objectivity. Throughout the entire process, the primary responsibilities for work progress can be tracked in the tool, where tests and results can be revised and all modifications are traceable. Results are analyzed and aggregated, and pass through an approval work flow, and final report is generated automatically.
Recommendation and follow-up phase: Inspection
Recommendations are created directly in the MEGA solution and grouped with test results. Based on this information, action plans can be created. Standard reports provide an effective follow-up on recommendations by assigned auditors.
Key Points
- integrates auditing and risk management
- accompanies all auditing steps using predefined processes
- follows a process-oriented perspective with numerous templates and workflows
- provides support for all levels from management to auditor
- delivers reports and analysis for process optimization and governance
- prepares factual and appropriate information for all levels
- enables rights management via standard profiles
- meets the standards of IIA, PCAOB, and ISO 19011
- adjusts to audit departments of any size
- is user-friendly and can be set up quickly
- offers low implementation costs