Internal Control in Auditing Software
Manage internal control activities within audit workflows by organizing control objectives, testing procedures, evidence, assessments, exceptions, findings, and remediation. LaserGRC helps internal audit, compliance, and control teams document control evaluations and maintain a structured record of control-related audit activities.
What this solves for internal control audit teams
Unstructured Control Testing Records
Organize control objectives, testing procedures, results, supporting evidence, and reviewer information within structured audit records.
Manual Control Assessment Activities
Create repeatable workflows for planning control reviews, assigning testing responsibilities, requesting evidence, and documenting assessment outcomes.
Difficult Exception Tracking
Record control exceptions and deficiencies with supporting details so teams can distinguish unresolved issues from completed testing activities.
Weak Follow-Up Visibility
Connect control findings with corrective actions, responsible owners, target dates, and follow-up reviews to support remediation tracking.
Internal Control Frameworks
Document control objectives, processes, ownership, assessment criteria, and other elements of an internal control environment.
Control Testing Programs
Plan and coordinate testing activities, procedures, assignments, review stages, and testing schedules.
Control Evidence
Collect and organize documents, records, testing results, and other evidence used to evaluate control operation.
Control Exceptions & Deficiencies
Capture deviations, weaknesses, observations, and deficiencies identified during control assessments and audit procedures.
Remediation Activities
Assign corrective actions, establish deadlines, record management responses, and monitor progress toward resolution.
Control Audit Reporting
Compile control assessment results, testing outcomes, exceptions, findings, and remediation information for relevant stakeholders.
How auditing software supports internal control activities
Review the Internal Control Environment
Assess existing control objectives, testing methods, audit procedures, ownership structures, evidence practices, and reporting requirements.
Define the Control Framework
Establish control categories, objectives, ownership, testing criteria, review stages, and documentation expectations.
Organize Existing Control Records
Structure current controls, testing results, evidence, exceptions, findings, action plans, and historical audit information.
Configure Control Audit Workflows
Set up processes for test planning, evidence requests, assessments, reviews, findings, approvals, remediation, and reporting.
Validate Testing Scenarios
Run representative control tests through the configured workflows to confirm that evidence, testing results, responsibilities, and follow-up activities are properly captured.
Refine Control Audit Operations
Adjust testing schedules, workflows, review requirements, reporting structures, and remediation processes based on ongoing audit needs.
FAQs
(Frequently Asked Questions)
What is internal control in auditing software?
Internal control in auditing software refers to using software-supported workflows to document, evaluate, test, monitor, and report on controls that help an organization manage defined risks and requirements.
What can software manage during an internal control audit?
It can help manage control objectives, testing procedures, evidence, assessments, exceptions, deficiencies, findings, corrective actions, and review records.
Can LaserGRC support internal control testing?
LaserGRC can help teams organize control testing activities, assign responsibilities, collect supporting evidence, document results, and manage follow-up actions.
Can control deficiencies be tracked in LaserGRC?
Yes. Teams can document control deficiencies or exceptions and associate them with responsible owners, corrective actions, deadlines, and remediation progress.
How does LaserGRC support internal control audits?
LaserGRC helps structure the control audit process from defining objectives and planning tests through evidence collection, evaluation, finding management, remediation, and reporting.
Bring control objectives, testing procedures, evidence, assessment results, exceptions, findings, and remediation activities into a consistent audit environment. LaserGRC helps teams maintain organized control records while supporting visibility across the internal control review process.
