The increasing demands of regulations and ‘compliance’ have increased the demand for audits.

Where a financial audit was once the usual requirement, today businesses must submit to audits in areas such as health and safety, security, information systems performance and environmental impact, amongst others.

Submitting audits to the relevant authorities or carrying out an internal one has become a significant and expensive burden for an organization, and a major distraction from day-to-day management and operation of a business. In the normal course of things, once an auditor’s report has been presented, the board and management of an organization review the information and recommendations and instruct the relevant individuals and teams to take the necessary action.

Thereafter, the board and management are seldom kept informed of the progress of those actions required by the audit report... until the next one. A common problem, for example, is the shifting of priorities as the audit’s requirements are passed down through the levels of management. This serves to increase the time and expense of audits.

Flexeye's Audit Management Platform (download PDF) permits increased visibility and internal transparency in implementing audit requirements.

It helps managers:

• Oversee and resolve audit issues in their area of responsibility,
• Reduce the time and expense of audit issues,
• Accelerate the closing of audit issues,
• Benefit from improvements suggested by audit results and ‘best practice’.

In addition, senior managers can access better quality intelligence about audit issues within their area of responsibility, the submission of reports can be accelerated, and collaboration with an external or third party audit team achieved with increased ease and convenience.