SAP Audit Management

Insight

Winterhawk recently asked SAP’s Michael Heckner, Senior Director EMEA Center of Excellence for GRC, for his insights into SAP’s Audit Management solution. We posed the question:

“According to studies, Internal Audit (IA) performance is not always highly rated; boards tend to rate IA performance higher than management. This would suggest it needs to become more service and customer focused – does SAP’s Audit Management solution support this?”

Michael’s reply:

“Yes it does. Firstly, SAP Audit Management is an integral part of SAP’s Three Lines of Defense solutions. It lets auditors collaborate effectively and at their own discretion with 1st and 2nd lines of defense. It also elevates the impact and benefit of Internal Audit as a function to the wider organisation.”

Why SAP Audit Management?

Because the software automates and speeds up the audit process – freeing up internal auditors to adopt a more strategic, advisory role. Leverage the power of the SAP HANA in-memory database, integrate with other governance, risk, and compliance (GRC) solutions, and align internal audit with overall business goals.

Features of SAP Audit Management

Drive high value issues and create keener insights with real-time audit analytics
Help internal auditors perform timely risk assessments and collaborate with peers
Automate internal audit procedures to cut costs and reduce elapsed time to reporting

Automate internal auditing procedures – and improve quality

Streamline, diversify, and enhance your internal audit engagements with SAP Audit Management powered by SAP HANA. This in-memory audit software makes it quick and easy to document evidence, organise working papers, and create audit reports. It provides the analytical capabilities to shift the focus of internal audit from basic assurance to providing insight and advice.

Product Capabilities:

Plan, manage, and perform the audit
Instantly capture audit documentation and evidence with mobile capabilities and drag-and-drop tools
Create, track, and manage audit issues with global monitoring and follow up
Use search capabilities to get more value from legacy and working papers
Engage auditors with a user-friendly interface and collaboration tools
Integrate with SAP Fraud Management, SAP Risk Management, and SAP Process Control to align with the business
Maximise staff utilisation and reduce travel costs with better internal audit planning, resource management, and scheduling

Communicate and monitor results

Improve issue quality with collaboration and on-line manager review
Standardise reporting with pre-established templates
Automate issue tracking for faster resolution
Reduce repeat findings through automation and follow up
Visualise audit results at the enterprise level and add value with thematic reporting using SAP Lumira

To see more videos head over to our knowledge section.

SAP Governance, Risk and Compliance (GRC) software is faster and more cost effective to deploy than you may think. Deploying SAP Audit Management with Winterhawk’s GRC experts happens in a matter of weeks.

Implementation

Implementation of Audit Management can be as quick as 10 weeks by leveraging Winterhawk’s best practice Master Data toolkits along with the expertise of our GRC specialists.

Winterhawk’s Rapid Deployment Services (RDS) for SAP GRC software solutions enables fast, efficient roll-out of out-of-the-box functionality, bespoke organisation hierarchy and customised master data (for example your organisation’s specific processes/controls/risks).

Using Winterhawk’s cost effective and best practice RDS strategy, you can plan for a GRC go-live in less than 3 months from when the project commences.

Get in touch

If you are needing help to implement or support SAP Audit Management, drop us a line, we’d be delighted to talk to you.