“Audit Automation” – A new way of Internal Audit in the Digital World”
Astral
adopts Robotic Process Automation (RPA) technologies to Evaluate Business
Process, Establish Internal Controls and Publish the exceptions with greater
accuracy
Audit Automation will lead to efficiencies in monitoring
controls, better visibility, time and cost savings resulting in better risk
management
We can achieve 100% audit results than random check
- Bots work
24/7 – but we can’t
- Bots
don’t make mistakes – but we do
- Bots can
perform the same tasks humans do – with less cost
- Protects
against unusual transactional risks
- Ensures
stringent process and financial controls
- Higher
quality output
- Enable
continuous auditing and monitoring
- Increased
sample size
Digital
Transformation Outcomes are Now Real and Immediate – What ABC can do?
- Derive
the overall objective of automation
- Identify
and prioritize the areas to be automated
- Identify
and implement the right tools for automation
- Manage
the dashboard and continuous monitoring
- Submit
the exceptional reporting
- Conduct
the periodic meeting with stakeholders to improve the Governance, Risk and
Compliance (GRC
ABC Review
Cycle:
- Identify
the key elements you would like to monitor on Daily / Weekly Basis
- Automate
the Controls
- Review
the exception
- Detailed
Investigation
- Identify
the Root Cause
- Derive
the Action Plan
- Implement
- Monitor