The Audit Compliance Manager (ACM) is developed specially to support the audit processing needs of banks and financial institutions. It employs workflow technology to control and monitor the various work steps in audit processing.
Key benefits
- Provides structured workflow for automatic allocation of auditors
- Supports different origination channels.
- Supports different coverage’s that are covered in the Audit process.
- Accepts multiple activities against Single Coverage area.
- Assigns coverages for Internal/Concurrent Audit.
- Provides selection of auditors with the period in case of Internal Audit.
- Supports branch and coverage assignment for the selected auditors.
- Supports multi-tier rate structure.
- Defines Actual Data entry (observations) by Auditors on activities in coverage areas.
- These observations are further displayed to BM (Branch Manager) for compliance, where the person gives explanation.
- Owing to the Auditors’ satisfaction, the BM complies the activity. Else an explanation is given and seek for additional information is carried out. Once the report is given a freeze status, no further changes is allowed to be made on the audit report.
Audit Flow
Audit flow is represented in the following figure:
Coverage Setup
This screen will accept all Coverages for those the Audit has to be conducted.
Audit Type Setup
This screen is used to accept all the parameters if the audit is given to the external agency or conducted by Internal team. Period of Audit Setup is:
- Monthly
- Quarterly
- Half Yearly
- Yearly
Audit Code Setup
This screen will accept all details like audit type, coverage areas included, Nature of audit and period for which the audit is going to be conducted.
Agency/Audit Team Setup
Concurrent Audit Details such as the following are accepted for agency:
- Agency name.
- Agency details.
- Agency Address.
- Validity of Agency.
- CA Membership no.
Auditor Allocation
This screen is used to assign the task for the auditor i.e. by audit code and coverage areas by branches.
Audit Console
This screen is used to show the task assigned to the user/Auditor, so that he can start working on that task immediately.
Compliance Manager employs the latest software development approach of 3-tier architecture. The graphical presentation, the application logic with the work-flow engine and the database can be separately run on three different machines. It is developed using .NET and can be deployed on MSSQL, ORACLE and DB2.