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.

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

How Auditors use SAP Audit Management – 15 minute best practices Webinar

A short 15 minute webinar on how Winterhawk’s customers are using SAP Audit Management and sharing some of the best practices.

SAP’s Audit Management software system has an easy to use user interface, is mobile compatible and can integrate with an existing Risk and Controls platform. Find out more in our webinar, which we cover:

• How to easily migrate existing audit data such as risks, controls, audit items, work programs, procedures, etc.
• Hints and tips on planning and preparing for audits quickly, and
• How Winterhawk customers are benefiting from using SAP Audit Management

To see more videos head over to our knowledge section.