Pentana Audit provides leading Dutch bank, Van Lanschot, with automated audit management tool
Van Lanschot is the oldest independent private bank in the Netherlands with a history dating back to 1737. They specialise in independent wealth management and are dedicated to the creation and preservation of wealth for its private and institutional clients. Private banking, asset management and merchant banking are areas in which it excels.
Historically, the Group Audit department documented audits in hard copy files in one location and the forthcoming relocation of the Audit Department meant that Van Lanschot would now be working across multiple offices. Consequently, it was no longer feasible to use this hard copy method and they had to address the availability and access of the audit files for the entire team.
One of the key challenges that had to be addressed when selecting a solution, was to ensure Van Lanschot were able to mitigate the risk of confidential information being compromised through the transferring of hard copy files from one location to another.
This established and confirmed the need to explore the market for an effective automated audit management tool.
- The tool facilitates a structured approach of the audit process and its different phases
- Centralised reporting
- Auditors and managers can easily see if an Audit has been completed,is on time or is overdue
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.