To bridge the gap between historically slow technology adoption and the need for innovation within the internal audit function, SAP AG today announced the general availability of the SAP Audit Management application powered by SAP HANA, an new solution dedicated to meeting the needs of internal audit teams. SAP Audit Management streamlines the auditing process by providing a cost-effective alternative to spreadsheets and manual tools while integrating into the powerful SAP Fraud Management analytic application and the SAP Risk Management application, creating a synergistic relationship to fulfill overall management needs. The announcement was made at the Institute of Internal Auditors’ 2014 International Conference, being held July 6-9 in London.
“The increase of innovation and automation across traditional functions of business has changed the mindset and expectations of audit departments. Having the ability to manage and conduct audits in the context of a changing business strategy and environment, utilize mobility to bring efficiency and agility to audits, integrate with critical business systems and processes and conduct a wider variety of operational audits, not just finance and IT, has evolved the auditor’s role as well as use of technology,” said Michael Rasmussen, chief pundit, GRC 20/20. “Auditors are no longer focused only on reporting and monitoring, they have become trusted advisors to senior management. Keeping pace with stakeholder expectations, an auditor must strike a balance between assurance of internal controls but also keep abreast of dynamic enterprise risks, evolving regulatory requirements and understand all of this in context of business performance and operations.”
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