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Reynolds Group improves audit efficiency and quality with Pentana

Reynolds Group improves audit efficiency and quality with Pentana

Reynolds implemented Pentana in 2012 as a productivity solution for internal audit including SOX testing and operational audit automation. The criteria that Reynolds applied to the procurement of their audit automation solution encompassed the needs to:

  • Deploy a standard audit methodology across all audit teams
  • Capture multiple types of information in one easy to access location: audit universe, controls (SOX and Non-SOX ), audit programs and work papers, audit findings and ethics hotline case tracking to allow for analysis and reporting to management and the audit committee.
  • Create reports efficiently and in a timely manner
  • View all segment audit work papers from a central location for quality
  • control purposes
  • Increase the efficiency and effectiveness of the audit process
  • Implement a comprehensive database of tests that could be shared across the group (rather than starting from scratch with each audit)
  • Make it easy for the audit lead to review work when all papers are clearly organised and labeled

 

Benefits

  • Thousands of hours of auditors’ time saved each year
  • Increased accuracy of audit reports and management information
  • The audit process is easier to control and manage
  • Stronger management of SOX compliance
  • Improved quality control described as “priceless”
  • Rapid implementation and deployment delivers rapid benefits realisation

Download the Case Study

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.

Christina Leighton, Director of Internal Audit at Reynolds Group Holdings Limited, Reynolds Group 

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