Global Food Packaging Manufacturer: Value Achieved in Audit Management

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The role of internal audit is taking on greater significance to guide the enterprise beyond traditional attitudes about financial controls to providing assurance that the organization is managing risk appropriately and meeting obligations across a range of high-risk business processes, operations, and regulatory requirements. Today’s audit department has growing demands to do more audits across operations and relationships while still being constrained by limited resources to fulfill these demands. To effectively conduct audits, efficiently manage limited audit resources, and meet the agility required of a dynamic business environment requires a top-down approach to audit that is driven by risk-based priorities and technology is utilized to manage resources, analyze data, and streamline audit operations. GRC 20/20 evaluated the challenges and approached a global good packaging manufacturer faced in addressing internal audit processes and technology. Being a global organization with increased pressure upon audits to do more of this approach in managing and conducting audits in documents, spreadsheets, and emails was no longer sustainable. To address this problem, this global food packaging manufacturer evaluated audit management solutions available to them in the market and selected to implement Ideagen’s Pentana audit management solution. GRC 20/20 has evaluated and verified the implementation of Ideagen Pentana at this global food and beverage packaging manufacturer and confirms that this implementation has achieved measurable value across the elements of GRC efficiency, effectiveness, and agility. In this context, GRC 20/20 has recognized Ideagen Pentana with a 2016 GRC Value Award in the domain of Audit Management.

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Global Food Packaging Manufacturer

Value Achieved in Audit Management

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The role of internal audit is taking on greater significance to guide the enterprise beyond traditional attitudes about financial controls to providing assurance that the organization is managing risk appropriately and meeting obligations across a range of high-risk business processes, operations, and regulatory requirements. Today’s audit department has growing demands to do more audits across operations and relationships while still being constrained by limited resources to fulfill these demands. To effectively conduct audits, efficiently manage limited audit resources, and meet the agility required of a dynamic business environment requires a top-down approach to audit that is driven by risk-based priorities and technology is utilized to manage resources, analyze data, and streamline audit operations. GRC 20/20 evaluated the challenges and approached a global good packaging manufacturer faced in addressing internal audit processes and technology. Being a global organization with increased pressure upon audits to do more of this approach in managing and conducting audits in documents, spreadsheets, and emails was no longer sustainable. To address this problem, this global food packaging manufacturer evaluated audit management solutions available to them in the market and selected to implement Ideagen’s Pentana audit management solution. GRC 20/20 has evaluated and verified the implementation of Ideagen Pentana at this global food and beverage packaging manufacturer and confirms that this implementation has achieved measurable value across the elements of GRC efficiency, effectiveness, and agility. In this context, GRC 20/20 has recognized Ideagen Pentana with a 2016 GRC Value Award in the domain of Audit Management.

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  1. The Role and Scope of Internal Audit Expands
    • Equipping Internal Audit to be Ready for the Challenge Before It
  2. Global Food Packaging Manufacturer
    • Value Achieved in Audit Management
    • The Challenge this Global Food Packaging Manufacturer Faced
    • The Solution to this Global Food Packaging Manufacturer’s Problem
    • Value Achieved in GRC Efficiency, Effectiveness, and Agility
      • GRC Efficiency Value
      • GRC Effectiveness Value
      • GRC Agility Value
    • GRC 20/20’s Final Perspective
  3. About GRC 20/20 Research, LLC
  4. Research Methodology

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rasmussenMichael Rasmussen – The GRC Pundit @ GRC 20/20 Research, Michael Rasmussen is an internationally recognized pundit on governance, risk management, and compliance (GRC) – with specific expertise on the topics of GRC strategy, process, information, and technology architectures and solutions. With 23+ years of experience, Michael helps organizations improve GRC processes, design and implement GRC architectures, and select solutions that are effective, efficient, and agile. He is a sought-after keynote speaker, author, and advisor and is noted as the “Father of GRC” — being the first to define and model the GRC market in February 2002 while at Forrester Research, Inc.

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