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Replacing Excel sheets with AdaptiveGRC modules to improve internal audit

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.

1 min read

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
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