Internal Audit: Strengthen Governance Through Connected Audit

Internal audit is key to effective risk and compliance oversight. When seamlessly integrated into the wider GRC framework, it not only strengthens governance but also enables faster, more efficient issue resolution and better alignment across the business.

Contact us

Support internal audit activities

An internal audit team that is empowered with the right technology is more efficient, reducing the time and resources required to complete tasks and achieve goals. Internal audit teams are also better able to align their activities with the whole of the GRC framework, sharing information about risks, and particularly operational risk and compliance risk.

Efficient Issue Management

Manage audit issues efficiently – Define audit issue management workflows and alerts throughout the issue lifecycle to enable issues to be resolved in a timely manner.

Track Audit Progress

Monitor issues and actions progress – Track the progress of internal audit issues and actions in real time through a dashboard configured to the organisation’s needs.

Link Audit to GRC

Connect audit issues within GRC – Link audit issues with risks, controls, and other user-defined criteria such as internal audit reports. Enable the organisation to see how audit issues relate to the GRC framework and risk appetite.

Design Custom Audit Reports

Create internal audit report templates – Enable end users with the right permissions to design the reports they need with the flexible dashboard creation wizard.

Report with Flexibility

Communicate about internal audit – Share reports – custom or out-of-the box – across the organisation. Schedule the reports or produce them on an ad hoc basis.

Control Access to Audit Data

Share audit information appropriately – Provide access to internal audit data, documents, dashboards and reports to the right people within the organisation through configurable permissioning.

Drive Business Accountability

Engage with the business – Assign multiple actions to the business, providing clear ownership for issue resolution. Enable a review by internal audit before resolution is signed off.

Provide robust governance

Internal audit plays a vital role within an organisation’s GRC framework, ensuring that policies, processes, and regulations have been adhered to. This governance role, when performed correctly, can significantly reduce risk within the organisation, enabling the business to focus on delivering value. So, it’s important to ensure that internal audit’s own practices are aligned with the firm’s GRC approach, and that internal audit information is shared with both risk and compliance.

“Aryza provides leading edge GRC software, with highly intuitive user interfaces and a host of features such as Business Intelligence and scenario analytics. Their comprehensive and robust solution makes them an ideal partner for us, both now and in the future as we ensure our risk and GRC processes continue to be at the highest level.”

Chief Risk Officer

“The Aryza GRC solution has depth of functionality covering Risk Control Self Assessments, Key Risk Indicators, Internal Loss Data Management plus Risk Intelligence tools, and this, coupled with the impressive speed and agility of the Aryza implementation process and their partnership approach, made them the clear winner in our selection process.”

CEO

“We’ve made some great progress in embedding Aryza Unite throughout the business this year and we really appreciate the support provided by Aryza. Really looking forward to showing the business the enormous value they’ll be able to get now that all the heavy lifting has been done!”

Head of Operational Risk

Case: Leading UK Based Investment Manager

Case: Leading Global Financial Services Firm

Case: Major Global Banking Institution

A leading UK based Investment Manager with over £22Bn in funds under management implemented Aryza Unite and migrated from another GRC supplier. The migration was carried out seamlessly with minimal to zero disruption.

The firm is using the Aryza Unite widely within the organisation and utilise the functionality for a large number of GRC activities.

These include:

Reporting and escalation of dealing errors using the Incident Management functionality
Compliance Monitoring
Compliance Thematic Reviews
Compliance Breaches
Internal Audit Reporting
Regulatory Horizon Scanning
Policy Exception
Product and Service Reviews
Third Party SLA Breaches
Data Breach Analysis and Escalation
Risk and Control Testing

This deployment demonstrates the wide potential of Aryza Unite to provide significant value across a wide spectrum of GRC activities and showcases the deep functionality and flexibility inherent in the system.

Despite the challenges of a rapidly changing regulatory environment, a leading global financial services firm has successfully implemented Aryza Unite, migrating from their legacy GRC system.

The firm identified a clear opportunity to enhance their GRC processes to meet more stringent regulatory requirements while improving operational efficiency. The Aryza system and team were chosen as they wanted to implement a market-leading and dynamic platform supporting a diverse range of GRC activities including incident management, risk and control assessments, key risk indicators, compliance and policy management.

The system needed to deliver more efficient risk management with effective and consistent risk assessment and reporting capabilities to support the firm’s operations across multiple jurisdictions. Utilizing its experienced team of GRC experts, coupled with its unique mix of modern, adaptable software, Aryza delivered a phased approach to implementing an enterprise-wide solution that automated processes, eliminated silos, and improved ease of use and efficiency.

The platform has led to significant improvements in incident management, risk assessment quality, and reporting capabilities, enabling the firm to respond more effectively to regulatory requirements

A major global banking institution with operations in over 30 countries implemented Aryza Unite to standardize their risk management approach across all regions. The company needed a solution that could accommodate varying regulatory requirements while providing consolidated group-level reporting.

The initial scope of the project was to implement the Risk and Control Assessment (RACA) module to create consistency in how operational risks were assessed across the organization. We delivered a configurable RACA process that allowed for local customization while maintaining group-wide standards. The system’s flexibility enabled the company to apply different risk assessment matrices for different business units while rolling up to consistent group reporting.

Following the successful implementation of the RACA module, the company expanded the implementation to include incident management, key risk indicators, and action tracking. The integrated nature of our solution allowed for automatic linkage between incidents, risks, and controls, providing a comprehensive view of the risk landscape.

The incident management functionality was particularly impactful as the wide and diverse nature of the group meant that reporting of incidents was unstructured and difficult to quantify and track.

The implemented system was transformational and enabled a centralised view of incidents, with rapid response times and features such as root cause analysis and automated action plans