Digitalized Self-Assessments in BGK

BGK’s Internal Audit Department faced challenges in managing and monitoring audit recommendations. The process involved acquiring and organizing information through emails and spreadsheets. A more integrated solution was needed to manage audits and recommendations previously done in Excel.

• The necessity of team-editing the same spreadsheet
• Audit reports created manually
• Inadequate communication among stakeholders
• Data scattered across multiple locations.

The bank decided to implement Internal Audit Suite to automate and unify the entire auditing process, using, e.g., these features:

• Automated report generation
• Linking findings and recommendations with audits
• Managing processes according to a universal workflow
• Real-time monitoring of recommendation implementations

• Significantly reduced data errors and audit fatigue
• A single source of truth for all current and historical data
• Improved flow of information among stakeholders
• Enhanced management and enforcement of audit recommendations