Internal audit plays a critical role in organisational governance by providing independent assurance that an organisation's risk management, governance and internal control processes are operating effectively. The latest CBOK report from the IIA, “Six Audit Committee Imperatives”, states that IA is not only about providing assurance but also helping the 1 st line of defense in helping it achieve its strategic and operational goals.
In this day and age, slower economic growth means that the focus on operational effectiveness and efficiency has been greater than ever. Internal Audit should also facilitate and monitor effective risk management practices by operational management to help with risk oversight and ensuring resilience. Risk management is imperative to responding to transformations organisations are undergoing as well as global technology advances, such as initiatives related to progress in digital technology and various other factors.
“CAEs should begin to understand culture, then identify specific risks they see from a business standpoint.” – Board Committee Chair, United States, Six Audit Committee Imperatives, Enabling Internal Audit to Make a Difference
Here at Ideagen, we provide our customers with best of breed risk based internal audit software. Pentana is the result of 25 years of experience in supplying systems that optimise audit productivity, manage risk, compliance and excellent management information. Combining audit best practice, risk library content, easy deployment and a modern user interface for on and offline working, Pentana has an unrivalled pedigree in audit and risk management.
Trusted by over 400 clients worldwide and used by over 10k auditors every day, Pentana from Ideagen has been the preferred solution for the following 10 reasons:
- Integrated, ready to use risk and control framework
- Ability to implement a consistent auditing methodology
- A central library of Objectives, Risks, Controls and Tests
- Reduction of wastage and duplication of effort
- Fully integrated analytics for automated testing of large sets of data
- Easy reporting on historical audits to inform future work
- Increased visibility of audit progress, risk levels and control coverage
- Quality driven throughout the audit process and audit team
- Complete audit management from planning and execution through to reporting
- Stronger management of SOX compliance
Want to hear from our clients? Here’s what they say about Pentana:
“The core functionality is excellent. It’s comprehensive in providing a process to follow through your audit steps and milestone dates. This functionality in particular allows us to measure those key events in an audit – an extremely powerful area of the software and one that I haven’t seen in other systems I’ve used.” – BT Group Plc
“Pentana has helped us professionalise our operation within global audit; bringing structured, disciplined but flexible way of working that we were looking for.” – Heineken
“Implementing one solution in Pentana across the entire Holding Company allowed us to make the processes consistent and resulted in more accurate, timely and efficient reporting.” – Reynolds Group Holdings Limited
“Pentana has single-handedly removed the issues we were having with our previous, paper-based auditing system. Where before it was difficult to obtain or gain access to the most up to date audit record or simply view a history of a certain office's performance, this has now been rectified electronically in Pentana.” – Travis County
“As our practice has grown, and as our needs have grown and changed as internal audit itself has developed, we have found Pentana really responsive and we’re using it on all our internal audit work as well as for our IT and general audits and it certainly enhances the quality of our audits.” - BDO
“I would definitely recommend Ideagen and its Pentana solution to my peers due to their commitment, their solution and their professionalism.” – BBVA
“When selecting an automated tool the focus was on ease of use and a short implementation period, as there was an urgency to launch and complete the project as soon as possible. Group Audit explored many providers in the market and chose the Ideagen’s Pentana solution because of the fast turnaround that was achievable, combined with competitive price.” – Van Lanschot
“I would highly recommend Ideagen’s Pentana software. It has brought great efficiencies to our audit process and the software is very, very good. It has made a huge difference to our approach to internal audit.” – Wylie & Bisset LLP
Increase productivity and effectiveness of your internal audit team whilst bringing your company significant ROI with Pentana, as recognised in the GRC 20/20 value award. Find out more about Pentana by downloading a brochure or requesting a free demo here.