Overview

By combining industry best practices with our internal audit software in a pre-packaged solution, MEGA makes it faster, easier, and cheaper to implement internal audit programs. Our Internal Audit solution is designed to save you time throughout the internal audit process, while ensuring that auditing data are traceable and consistent.

MEGA Internal Audit helps internal auditors:

  • Take on a new role in their organizations to support corporate governance and risk management
  • Run internal audit departments more efficiently
  • Boost the productivity of internal audit departments

Key Features

Preparation Phase: Building an internal audit plan and allocating staff

  • Audit plans are built based on reports outlining the results of prior audits, action plans that have been implemented, the coverage of business processes and business units, and your organization’s main risks
  • Audit schedules can be graphically edited in Gantt charts
  • A workflow is used to prioritize and approve the list of audits to perform
  • Reports and dashboards are used to assign auditing tasks according to internal auditors’ skills and availability
  • Classifications can be carried out according to SOX 404

Execution Phase: Preparing and performing audits & delivering audit reports

  • The audit scope is established, including the risks to be audited
  • An audit work program is generated either manually or automatically using predetermined templates and checklists
  • Audits can be carried out both online and offline
  • Observations are entered using a questionnaire format based on test results
  • Recommendations are written and linked to one or more observations, and supporting documents and images can be attached
  • Time spent and expenses for each auditor and auditing assignment are tracked
  • A workflow is used to track progress on audits and review observations, results, and recommendations
  • After an internal audit manager reviews and approves the final audit report, the results are communicated to the corresponding business units through a workflow

Inspection phase: Recommendation and follow-up phase

  • Recommendations are created directly in the solution and grouped with test results
  • Out-of-the-box reports provide an effective follow-up on auditors’ recommendations
  • Progress on action plans is tracked through reports with progress indicators and a list of selected criteria
  • Alerts are automatically sent by email to make sure action plans are implemented by the given deadline

HOPEX Internal Audit is integrated into MEGA’s single platform. That means you get enhanced synergies for advancing your business and IT transformation, as well as a clear, common view of key information about your organization.

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