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Ideagen Pentana streamlines FORUM Credit Union’s auditing – allowing them to focus on more audits

Providing internal audit services for FORUM Credit Union (FCU) required automated audit management software which would allow them to move away from dated paper and manual auditing processes. Their legacy system and associated processes, which were based around a series of networking folders under the Windows operating system and then the Microsoft Office suite of products, could not provide complete visibility of organisational auditing tasks or performance.

With pressures emerging due to the growth of the company as well as a burning desire to upgrade to a more modern auditing automation system, FCU management recognised that in order to increase visibility of operational performance and meet growing client needs, an electronic and automated auditing tool had to be sourced.

Benefits

  • Complete oversight of what is going on; how FCU’s audit team is performing, where and when, and providing a dashboard of performance data
  • Removing the manual work associated with work paper documentation has saved hours of time
  • FCU’s auditing techniques & processes mirrored electronically and automated in the Pentana system – saving further time

Pentana has cut between 10%-20% of the time we were spending conducting our audits, allowing us to focus on additional aspects of each audit and, more importantly, presents us with more time in which to carry out additional audits.”

Rick Walke - VP of Internal Audit and Compliance
FORUM

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