Get real-time completion status of ongoing Audits at all locations. Centrally manage audit planning, audit programs, workpapers and fieldwork and coordinate information among Auditors, Auditees and Management at all levels of organization.

Laser Audit Reporting System puts you in control of the complete audit lifecycle by establishing a systematic, disciplined and a uniform process for internal audit management. Aligned with the Institute of Internal Auditors (IIA) standards, this web-based solution enables you to plan your annual audits, schedule it, view audit programs, create work papers and findings and track ongoing observations. Through LARS™ you can keep all your audit files in one place and easily share them with Adutors, Auditee and Management Team.

Brings Auditors, Auditees and Management together. Establishes a transparent and uniform process for internal audit management at all levels of an organization. Get real-time completion status of ongoing Audits at all locations.   Get ageing analysis of all open observations by importance of observation, department and by SBU. Get reports showing breach of committed dates for observations by department. Effectively plan Annual Audits by selecting audit areas based on control effectiveness measure history of audit areas. Auditors get a central workspace to manage all audit areas assigned to them. Instead of scattering documents all over the place, LARS™ keeps all information of an audit area centralized at one place. Create Audit Program from scratch or use one already saved in your “Audit Program” repository. Simply select the audit program from repository that closely fit your audit, edit the plan as required and you are done with audit program, saving you hours of data entry time. Create work paper and findings for an audit program. Update field work and findings for each control, policy or procedure that is evaluated. Create observations related to a control, policy or procedure. Capture complete observation details such as observation title, observation details, type, category, escalators, impact, short observation, recommendations etc. Quickly fetch the list of open observations by audit area, auditee, department or SBU. Create corrective and preventive recommendations for improvements for identified observations. Auditees create action plan, assign responsibility and sets deadline in response to the suggested recommendations. Keep all your audit files in one place. Easily share files, documents, images with Auditors, Auditees and Management. LARS™ supports all popular file formats including Microsoft Word, Excel, Power Point, Outlook Message, PDF, JPG, Gif, PNG etc. Automatically reminds auditees to update status on pending action plan activities. Automatically escalates activities that remain incomplete after “X” no. of days from due date of the activity.   Dashboard: At a glance, quickly review progress of all ongoing Audits. Dashboard gives real-time completion status of ongoing Audits at all locations. Access ageing analysis of all open observations by importance of observation, by department and by SBU.   Audit Planning: Effectively plan Annual Audits by selecting audit areas based on control effectiveness measure history of audit areas. Keeps track of planned, unplanned, dropped, ongoing and completed audits.   Audit Scheduling: Create Audit plan by assigning Audit Areas to Auditors and providing start and end date for each audit area.   Auditors Workspace: Auditors get a central workspace to manage all audit areas assigned to them. Instead of scattering documents all over the place, LARS™ keeps all information of an audit area centralized at one place.   Audit Program: Add activity, associated risks with the activity, existing controls in place and its effectiveness. Send Audit Program for review to Head Auditor, to Peers, to Auditee or export to excel. Create Audit Program from scratch or use one already saved in your “Audit Program” repository.   Issue Engagement Letter: Inform auditee of the audit through a formal announcement letter created and sent right within LARS™ .   Work Paper and Findings: Create work paper and findings for an audit program. Update field work and findings for each control, policy or procedure that is evaluated.   Attachments: Keep all your audit files in one place. Easily share files, documents, images with Auditors, Auditees and Management. LARS™ supports all popular file formats including Microsoft Word, Excel, Power Point, Outlook Message, PDF, JPG, Gif, PNG etc.   Observations: Create observations related to a control, policy or procedure. Capture complete observation details such as observation title, observation details, type, category, escalators, impact, short observation, recommendations etc. Quickly fetch the list of open observations by audit area, auditee, department or SBU. Track completion status of all open observation based on completion of action plan created by auditees in response to recommendations.   Recommendations: Create corrective and preventive recommendations for improvements in identified observations. Auditees create action plan, assign responsibility and sets deadline in response to the suggested recommendations.   Audit Program Repository: Audit program repository helps in achieving high quality audits each and every time even though if the Auditor has recently joined your organization. Create and leverage repository of best practice audits in LARS™ .   Peers: Auditors can share audit program with peers to get peer feedback or to take inspiration from peers audit program.   Workflow: Built in work flows such as audit program review, observation review, recommendation action plan review gives better process control and improves audit efficiency.   Automatic Reminders and Escalations: Automatically reminds auditees to update status on pending action plan activities. Automatically escalates activities that remain incomplete after “X” no. of days from due date of the activity. Automatic reminders and escalations results in completion of assigned activities within the target date of completion and increases implementation of recommendations by auditors.   Reports: LARS™ helps you generate several ready-to-present reports such as Audit Program, Work Paper and Findings, Observation Ageing Analysis, Observation Details, Observation report for Audit Committee, Status of Annual Audit Plan etc. Saves tons of hours which otherwise would have been spent in gathering content, organizing it, formatting and then creating reports.   Complete control over Masters: Administrator of LARS™ has complete control to configure the masters completely as per individual organizations requirement. Create and manage masters such as Users, SBU, Location, Department, Audit Areas etc.