Audit Management

Fully Automated and Integrated Solution for the Internal Audit Life Cycle

Galileo is a fully integrated Audit Management, Work Paper, Action Tracking and Reporting System which is tailored to suit the precise needs of an Internal Audit, Investigations, Compliance or other project oriented department.

When integrated with the Magique Risk Management System, it provides a full risk-based auditing methodology to plan from the risk register and feed the audit results back to the register. The system covers Strategic and Annual Planning, including Assurance Mapping which ensures targeting of high risk areas whilst maintaining coverage and Intelligence gathering and processing. Activity Monitoring and Tracking ensuring problems and delays are identified and attended to at the earliest time with Resource Management, Scheduling and Time Recording to ensure effective use of resources.

A range of work papers which can be configured as required. Optional population of control testing papers from libraries of standard tests, risk registers and policy conformance exercises.  All work papers include options for embedded links, hyperlinks and attachments.

Integrated

A single integrated system that intelligently combines elements to provide a complete picture

Individual

Configured and customised to meet your organisation and users’ exact needs

Intuitive

Easy to use system, liked by users, which evolves and grows with you

Innovative

At the forefront with techniques to improve your methodology, efficiency, delivery and profile

Strategic Planning

Audit work prioritisation to optimise the risk and control coverage and maximise the assurance given on management’s assessment of their risks.

Intelligence gathering from meetings, events, whistleblower and news is fed back into the planning process to cover the changing requirements.

Annual Plans and Activity Tracking

Provides activity planning including audits, investigations, projects and administrative functions. Allows in-depth activity progress and action tracking.

Extensive Reporting

A wide variety of flexible reports, including Audit Progress and Performance, Audit and Action Tracking and Dashboard Reports. Throughout the system, standard and organisation-specific KPI and Statistics are provided.

Email Alerts

Email alerting of overdue actions and proactive alerting of pending items.

Benefits

Adopt the Best Auditing Practices

  • Complete linking of risks to audits for planning purposes
  • Generation of working papers based on the risks, controls and tests
  • Analysis of tests results by risk

Better Quality Audits

  • Control processes for management of activities
  • Continuous review cycles for all documents
  • Benefit from knowledge sharing
  • Standardisation of methodologies, working papers and reporting, where required

Operate More Efficiently

  • Work on highest priority issues
  • Optimise the use of resources based on availability and skills
  • Re-use working papers from previous activities and library information
  • Automatic creation of reports and statistics

Closer Liaison with Customers

  • On-line access for audit customers to participate in the risk management and audit processes
  • Provide on-line customer focused reporting

Improved Profile within the Organisation

  • Provide access to information on-line
  • Presentational quality of reporting
  • Offering proactive advice

Timely Reporting

  • Instant production of reports, analyses and KPIs as required
  • Timely identification of issues and problems
Build the system to match your needs and methodology from an extensive range of options

Key Features

  • Strategic Planning of Activities over multiple periods
  • Creation of annual plan of work supporting a risk-based audit methodology
  • Multiple options for linking risks to the Audit Universe
  • Audit Needs Risk Assessment Model
  • Progress Tracking with target, revised and actual milestones
  • Progress points providing indentification of overdue activities
  • Annual Plan Budget and Reporting functions
  • Contingency Budgets Management
  • Year End Processing and Reporting functions
  • Staff resource and skills management
  • Staff Scheduling System, including Gantt charts and Time grids to show work allocation, availability and time conflicts
  • Weekly Timesheets System
  • Versatile Working Papers System with a wide range of standard and optional working papers
  • Library facility for standard working papers and reference material
  • Risk and Control Matrix supports many to many relationship to optimise efficiency
  • Optional allocation of working papers to staff
  • Optional automatic referencing of working papers
  • Links with Magiue to generate working papers of risks, controls and optionally tests idetified by management
  • Cross-linking between any working papers
  • Electronic review and sign-off of documents including generation and tracking of review points
  • Full Issues and Actions Tracking System with multiple levels
  • Comprehensive security model
  • Post activity questionnaire to gain feedback from the business