How to Be the Ultimate Internal Auditor

How to Be the Ultimate Internal Auditor

Internal Auditor

As an internal auditor, do you often find yourself taking notes, creating recordings, or using any electronic tool or means necessary to record findings, observations, and best practices? It can be a tedious operation to compile all of your audit records and findings for the final audit report.

These internal audit reviews are critical in ensuring companies are able to manage risks properly and ensure certain procedures are in place before an external audit lands you with costly fines and penalties. Internal auditing can also help you identify areas where your company may need to improve to reduce environmental, health, and safety risks and hazards.

How can you be the ultimate internal auditor?

Auditing doesn’t have to be so difficult. With Gensuite, you can be the ultimate internal auditor for your company so you can begin to save time, money, and avoid risks associated with a lengthy audit report process with associated risks.

Plan ahead.

Devote additional time prior to year-end close to adequately prepare for external auditing. That means being available during audit fieldwork, and to communicate with those involved in the internal and external audit processes. Proper planning and clear expectations will help minimize anxiety and frustration. Though to be even more ahead of the curve, treat audit preparation as a year-long process. By keeping schedules and reconciliations up-to-date throughout the year, you can reduce the time it takes to prepare for the audit at the end of the year. Also, maintain an open line of communication between the organization and the external auditors during the year rather than waiting until the audit to discuss new or unusual transactions. This will minimize surprises and allow the organization to make appropriate plans or necessary changes.

Audit Technology.

Audit technology can take your internal audit preparation one step further. You can now streamline your internal audit processes by leveraging the latest Gensuite Mobile technology. Some features include the facilitation of:

  • Quick data entry
  • Auditor communications
  • And easy reference to audit protocols with Gensuite’s Award-Winning Audit Assistant

Gensuite Audit Assistant provides a digital collaboration sandbox or “Audit Room” for each member of the internal audit team to manage their observations throughout the audit process. The audit application has been designed and optimized to take auditing offline and mobile with native offline capabilities via the Gensuite Mobile App. The Audit Room is perfect for internal auditors to securely record observations together with photos, videos and recordings captured in the field, and then collaborate on the list of observations to eliminate duplicates and validate findings. You can further extend your team’s productivity with the easy access to regulatory compliance and internal audit protocols hosted within the Gensuite Power Audit application. Audit Assistant is now used by over 230 auditors today.

Ready for the External Audit.

What has been fascinating to see is how Audit Assistant is being deployed across the Gensuite subscriber community with internal and external/third-party auditors. A Fortune 10 multinational conglomerate with 305,000 employees is using the tool to standardize data collection across global Governance Teams while sharing logistical information and post audit reports.

Global teams are now collaborating based on their area of expertise in management systems, compliance understanding, or language proficiency which was not possible prior to this audit innovation. One of our customers, a Senior EHS Leader at a Fortune 10 Company, raved, “Gensuite Audit Assistant is a tool that was designed with auditor’s needs in mind. It is intuitive and perfect for collaboration. It’s great, best tool you’ve ever built!” For more tips on how to thrive during an external audit, check out this blog.

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