4 ways to streamline internal audit management · teams work outside of systems to share data point...
TRANSCRIPT
The contents of this presentation are confidential. Copyright © 2019 Workiva.
4 Ways to Streamline Internal Audit Management
Questions
Presenters
Dana WilliamsSenior Product Marketing ManagerWorkiva
Ben GrantPresales Solution EngineerWorkiva
Agenda
• Overview of the current landscape
• 4 ways to streamline internal audit management
• Product demo
• Q&A
The Nature and Complexity of Risk Is Evolving Exponentially
Risk
com
plex
ity
Current Tools Are Behind the Curve
75%of practitioners believe
current tools are ineffective
Source: Institute of Internal Auditors
+36% increase from prior year for time spent on controls management
Increased effort
Source: Protiviti
Less confidence
The contents of this presentation are confidential. Copyright © 2019 Workiva.
Risk owners
Process owners
Control owners
Exec team SOX compliance
Consultants External auditors
Audit committee
Point solution GRC platform Shared drive
Evidencefiles
Risk identification
Financial data
(10-K, 10-Q)
RCM
Policies Actionplans
Issues
Control descriptions
Audit committee
presentation
Teams Work Outside of Systems to Share Data
Current Technologies
Microsoft Office is a registered trademark of Microsoft Corporation in the United States and/or other countries.
Teams Work Outside of Systems to Share Data
Point solution GRC platform
Risk Owners
Process Owners
Control Owners
Audit committee
Exec team Compliance teams
Internal AuditConsultants
External auditors
1. Inconsistent data
2. Poor visibility into full process
3. Time wasted on non-value add tasks
4. Inefficient collaboration and low engagement
5. Lack of data security
Consequences of a disconnected process
Shared Drive
Internal audit
Auditcommittee
Consultants/external auditors
SOX compliance
Control owners
Process owners
Risk owners
Executive team
Future State: Connect People, Processes and Data Across Risk and Controls Management
Access consistent, connected data
Collaborate with all stakeholders
Make quick, informed decisions
Benefits of Connected Risk and Controls Processes
4 Ways to Streamline Internal Audit Management
1. Dashboards and reports
2. Risk assessments
3. Testing
4. Final reporting
Demo
Workiva for Internal Audit Management
Final reports
Dynamic, linked documents
Fieldwork and workpapers
Risk assessments
Scoping and planning
Collaboration with control
Automated PBC and testing
Internal Audit
Real-time dashboards andperformance analytics
SOX/Internal Controls
Policies and Procedures
Enterprise Risk Management
Integrated Risk
• Stevie Awards: 2018 Most Innovative Company
• Weekly release of new features
• Built on customer input
• Data Integrity and Control in the ChartisResearch 2019 RiskTech100 Report
• SOC 1 & SOC 2 compliant
• FedRAMP certified • Trusted by over 75%
of the Fortune 500 for their most sensitive data
• Partner network, Wdeskcertified to implement
• SOX Professionals Group
• Regional user groups• Annual user conference• Online community
Why Workiva?
• 100% in the cloud: online when you are
• Designed to fit your process
• Flexible• Intuitive
• 100+ employees with former audit experience
• 24/7/365 support with 2 hour max response time
• Dedicated customer success manager
Secure Purpose-built World-class support
Community Commitmentto innovation
