Replacing Excel sheets with AdaptiveGRC modules to improve internal audit

The Challenge

Bank Gospodarstwa Krajowego (BGK) is a state-owned national development bank, serving to support Poland’s social and economic growth as well as to aid the public sector in achieving its goals. BGK’s Internal Audit Department needed a more integrated way to manage audit and recommendation processes, hitherto performed in Excel spreadsheets.

Problems to solve

  • Audit reports created manually 
  • Significant dispersion of audit recommendation implementation processes  
  • Necessity of team-editing the same spreadsheet with no alternatives
  • Communication and update of implementation stages supervised by email

The solution

Internal Audit and Recommendation Management module of AdaptiveGRC 

  • Logging information about each internal audit
  • Adding findings and recommendations to audits
  • Managing the implementation of each recommendation per a pre-defined workflow
  • Closing reporting periods – status reports for recommendation implementations as of reporting period closing date
  • Recommendation implementation status reporting – reports of current statuses and statuses in selected reporting periods

Results

Quick and easy access
to current and historical audit information 

Real-time monitoring of current stages
of the implementation process

Automated notifications about status changes,
delays, and upcoming deadlines

{
Once the audit and recommendation processes are handled through AdaptiveGRC modules, the previous spreadsheet-and-email strategy turns out to be enormously time-consuming and with a high risk of oversights. What are the direct results of using AdaptiveGRC? Improved flow of information, managing audit recommendations, and enforcing their implementation clearly synchronized on a multi-level structure. All current and historical data in one place with many industry insights indicating what can be done differently or better.
Jan Anisimowicz, C&F | Chief Commercial Officer

Our Articles

World`s Best Trust Us

For more than 20 years now C&F has been providing solutions for the largest international organizations, including those listed in Fortune 500.