Public Sector Client
The Challenge
- Improve the way follow up actions from audit reports are managed and tracked to completion.
- Establish roles and responsibilities for actions to ensure timely completion.
- Reduce manual effort required in chasing and tracking action statuses.
- Enable more effective communications between different teams and third-party internal audit co-source provider.
The Solution
We implemented TRACE (Tracking Actions Efficiently) for the client to log, track and manage follow up actions related to audit reports:
- TRACE by Deloitte is a simple and easy to use, cloud-based product.
- The solution provides a central record and reporting mechanism for the client to oversee all Audit Reports, Findings and Actions, with real time reporting and workflow technology.
- Workflows are configured to enable automatic alerts and reminders when actions are due or overdue, with built-in escalation route.
The Outcome
- The client has transformed the way they conduct audit report follow up activity.
- By using TRACE, the process for them is now much more transparent and the client is actively engaged with the Deloitte team by providing regular updates to their assigned actions within the tool.
- TRACE has increased the client’s reporting capabilities and added much efficiency to their internal audit follow up reporting across the IA team.
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