External Audit Management
Tool that links planning to customisable work steps based on risk assessments and concluding reports. Improves efficiency with overview dashboard navigation, automated roll forwards and linked data for all digital documentation and supporting documents. Allows for real time collaboration for teams and streamlines reviewing process.
Please review all requirements. Your solution must meet all 🔴 mandatory requirements to qualify.
4.01🔴
Electronic Audit Platform - Lockdown and archiving functionality - Track completion and archival dates - Retention of details of “last modified by”, “last modified date”, "partner sign off dates" and "EQR dates" even after lockdown and archival of file. - Controls over Access rights - Workflows in compliance with requirements of Singapore Standards on Auditing (vendor needs to be committed to releasing updates on a timely basis) - Resolution of conflicts when they occur, e.g. when >1 user edit a certain step at the same time
4.02
- Maintains logs of changes made to individual work steps. - Allows rolling forward of audit engagement files. - Allows multiple users to work on the same file in real-time
4.03
Data Analytics Capabilities Is the tool a separate technological tool
4.04
Data Analytics Capabilities Is the tool built into the system?
4.05
- Vendor to provide comfort/assurance (e.g. certification) to the firms, with respect to operational effectiveness and consistency of the DA capabilities - facilitates necessary documentation within the audit tool (e.g. how completeness of reliability and completeness of data addressed, tests performed and the algorithm/logic applied, retention of results, etc etc)
4.06
- where applicable, to demonstrate adherence to AGS 13. - algorithm/logic applied should be visible/transparent
4.07
Is your system using a cloud based platform?
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