Ensure compliance with internal controls
The audit assessment blueprint is a guide to efficiently building a Rainbird solution that evaluates how well your organisation or third parties adhere to fixed controls – determining if a particular entity or activity is operating as expected.
Rainbird enables you to codify individual audit requirements and allow the technology to do the cognitive heavy-lifting. You can continuously monitor audit subjects to ensure they are in line with expectations and identify variations then they occur and what action to take.
Automating audit assessment procedures allows you to continuously monitor and obtain insights into your business environment, including internal controls, to identify and assess the risks, whether due to fraud or error.
Use cases
Financial audit assessment
Assess compliance of your financial processes and statements and ensure they adhere to relevant financial auditing standards.
Environmental Social & Governance (ESG) audit
Evaluate the extent to which your operations meet ESG standards so that socially conscious investors can screen potential investments.
Internal audit assessment
Evaluate governance, risk management, and control processes using a systematic, disciplined, and risk- based approach.
Noise audits
Conduct audits on business processes to identify variations in decision-making, especially noise (the hidden cost of inconsistent employee decision-making).
Benefits
- No code approach to codifying business logic, accelerating build time and reducing maintenance costs.
- Codify audit factors independently and declaratively and leverage the technology to combine factors to make superior judgement.
- Employ scoring rubrics to assess qualitative processes without being limited to quantitative (numerical) assessments.
- Easily modify or extend business rules as your business model changes.
- Be evidence-backed with a complete audit trail for every audit assessment made.
Find your Blueprint
If you want to find out more about the next-best-action blueprint, contact us for a demo.