Safety regulations and requirements implemented by governments worldwide, and organizations’ desire to protect their staff, suppliers, distributors, and customers, have forced many businesses to update, if not, transform their risk assessment model and embrace emerging technology to stay in business. All these changes are closely followed by IT and third-party risks that cannot be ignored.
TeamMate Audit Benchmark indicates that audit leaders from around the globe seek to reconfigure their risk assessment and audit planning activities to better address the dynamic nature of their rapidly changing environments. Some of their key initiatives involve implementing processes to move away from yearly risk assessments in favor of a more continuous approach.
Those who have started their journey toward continuous risk assessment quickly realize the need to connect systems and data across the organization to ensure that risk professionals can access and assess information that may create risk vulnerabilities. Many organizations rely on an expert risk management solution that provides an API framework to connect to their ecosystem.
How can TeamMate+ help internal audit teams move to a more dynamic risk assessment?
Today, thousands of internal audit teams across the globe are using Wolters Kluwer’s fully configurable, web-based audit and assurance management expert solution, TeamMate+, to put them in a position to address immediate-term needs and reach their long-term goals.
Some of the features available within our expert solution include:
Data exchange API
Organizations of all sizes and across all industries take advantage of the TeamMate+ data exchange API framework to enhance their risk scores with the data obtained from their organization’s enterprise risk management (ERM) function. Leveraging real-time data from other risk functions would be impossible using a tool like Excel.
Risk score historical insights
TeamMate+ provides internal audit teams with actionable reports that show risk, controls, and fraud potential over time. TeamMate+ tracks how risks are trending and allows your team to focus on risk areas.
