CERRIX AND

AUDIT MANAGEMENT

Independent audit projects are initiated by the internal audit department according to their own risk based priority in contrast to the CRSA processes supported by the Operational Risk Department.

• Project Documentation: An audit project requires a significant pile of documentation. In CERRIX, the documentation can be stored by project and foreseen with relevant meta-data.
• Evaluation against norms: Audit activities can ask for checks and balances which have to be reviewed against pre-determined norms. In CERRIX, these norms can be defined against the risk universe.
• Prepare Findings reports: The findings resulting from the audit work, can be stored including attachments for evidence. The report can be generated at any time and is available for the manager whose business it concerns. The finding will usually result in one or more measure-of-improvements with specific targets for future improvements.
• Action Monitoring and follow-up: The set of measure-of-improvements for all different business activities that are issued by audit department, is in CERRIX fully supported with an advanced work-flow mechanism. Audit managers may define a number of audit follow-up periods. Strict monitoring will result in continuous business improvement.