Governance Risk and Compliance are words used repeatedly in the last two years, even as we saw large corporations fall and then economies being impacted so severely the sovereign states are now on the verge of bankruptcy.
ANB believes that in the next 10 years the Internal Audit or Review work will have to undergo a significant shift. Controls will have become more robust and audit will have to revolve around such controls, making it difficult to review millions of transactions after they have been submitted. This will give rise to the need to review all such transactions and take us back 100 years into 100% transaction review, only difference being that automated solutions i.e. technology will be used extensively to audit data residing in the technology platforms.
Continuous auditing (CA) has been spoken and thought of by almost all the audit professionals however in a complex world where attributes are not common, having data common structures will always be a challenge and impediment to use technology in the auditing process. ANB has with its experience in various data structures across various industries viz: Banking, Insurance, Financial Services, Telecom and Manufacturing has the right skill sets to understand these needs and provide continuous auditing solutions which are integrated and real time.
The generally available CA tools, which actually share the leadership space on various forums like Gartner etc. are procure to process payroll, general ledger, double payments, access rights, travel and expenses etc. At ANB, we have some of the most complex connectors to large business tools and software applications example: telecom billing systems, credit card systems, core banking solutions, security parameter compliance tool for different operating systems and databases, revenue assurance systems, vendor payout systems etc.
ANB offers a unified governance framework for CA. A peek into what we believe is the future of auditing. We strongly urge you to make a call, it could change the way audit is run.