Every successful audit is based on sound planning and an atmosphere of constructive involvement and communication between the auditee and the auditor. Although every audit project is unique, the audit process is similar for most engagements and normally consists of four stages: Planning (sometimes called Survey or Preliminary Review), Fieldwork, Audit Report, and Follow-up Review.
Auditee involvement is critical at each stage of the audit process. One of the key objectives is to minimize this time and avoid disrupting ongoing activities.
Laser Audit Reporting System (LARS) does exactly the same and has all the features one would want from an online audit reporting tool.
The key Features of the ARS are
- Web Enabled
- Exceptional User Interface
- Unique Scoring & Analysis
- Role Based Privileges
- Fully configurable terminology and workflow
Key Functionalities of the ARS are
- Audit Planning and Scheduling
- Audit Management
- Electronic Working Papers
- Online Audit Questionnaires
- Repository / Library
- Real time update on Audit Progress Status
- Role Based Dashboards
- Observation Tracking and Escalation Mechanism
- Powerful MIS Reports exportable to excel / word.
LARS represents the next generation in Audit Management Software with its use of .Net technologies; it provides full enterprise wide functionality for all audit teams from strategic annual planning all the way down to detailed testing on a daily basis.
One can manage ongoing activities of the Audit Team on a day-to-day, week-to-week, month-to-month basis. Once the Audits are underway their progress can also be viewed and monitored within LARS with easy to use, powerful Dashboards.
LARS has fully integrated Action / Recommendation tracking system. For example, when Actions / Recommendations are created within the Audits, it is, at the end of the audit, automatically transferred into the Action / Recommendation Tracking system. The life of an Action / Recommendation is then separated from that of the Audit. Even when the Audit is Completed in LARS the Actions / Recommendations live on making continuous / timely follow-up simple and straight forward. Powerful escalation and reminder system ensures that the status of action plan is updated by auditee in LARS on continuous basis. In addition, members of the organization outside the organization can also be given on-line access to monitor and update their own Actions / Recommendations (browser based, no software required). Each Action / Recommendation can have a range of related information such as Priority, Category, Dates, Owners, Comments, and Attached Documents etc. |
