AuditRoom
AuditRoom is an electronic content management tool that provides process automation, risk management and facilitates collaboration between multi-state corporations, government agencies and consulting firms. It can reduce the inherent risk and material weaknesses related to audit management issues while also assessing the overall effectiveness of current controls.
Benefits at a Glance
- Reduces risk resulting from material weakness.
- Provides SOX compliance-related controls.
- Effective collaboration and communication streamline processes.
- Increases the efficacy of operations and accelerates your tax process.
- Improves integrity by providing a central and secured repository for tracking and managing external and internal resources.
- Highly customizable and able to integrate with any solution.
- Different user interfaces give you control over information.
Key Features
- Accessible from any web browser.
- Allows organizations to conduct audits over a wide geographic area with distributed teams.
Team Collaboration
- Different user interface for internal audit team and auditors.
- Receive requests or IDRs from auditors within the AuditRoom and respond to it with the help of response features.
- Work on many projects simultaneously.
- Notifications at every step.
Document Management
- Version control-one copy of each document in the system.
- Organizes documents in a logical way.
- Search option simplifies finding documents.
- Allows uploading multiple files in any format. PDF, Word, etc.
- Provides a central repository to store all tax-related documents and files.
- Control document edit access via check-in and check-out capability.
- Ability to lock document once it changes its state from prepared, reviewed and approved.
Record Management
- Ability to identify, classify, archive, preserve, and destroy records.
- Implement Sarbanes-Oxley controls.
Document Sharing Across Audits
- Allows sharing input of one audit to another audit.
Manage Communication
- Provides internal and external messaging-audit team can send a message received by the recipient via email address as well as in the recipient's inbox in the AuditRoom application.
Robust Security and Access
- Security and user management with users, groups and roles.
- Document-level security.
- Identification of any users making any changes to tax documents.
Maintain Audit Trail and Audit Life
- Provides the ability to monitor a username's site access logs by date and time.
- Provides an ability to manage the life of an audit by making an audit active, inactive or archived.
