Sword Audit Manager

Sword Audit Manager

Fully Automated and Integrated Solution for the Internal Audit Life Cycle

Sword Audit Manager is a fully integrated Audit Manager, Work Paper, Action Tracking, and Reporting System which is tailored to suit the precise needs of an Internal Audit, Investigations, Compliance, or other project-oriented departments.

When integrated with Risk Management, it provides a full risk-based auditing methodology to plan from the risk register and feed the audit results back to the register. The system covers Strategic and Annual Planning, including Assurance Mapping which ensures targeting of high-risk areas whilst maintaining coverage and Intelligence gathering and processing. Activity Monitoring and Tracking ensuring problems and delays are identified and attended to at the earliest time with Resource Management, Scheduling, and Time Recording to ensure effective use of resources.

A range of work papers that can be configured as required. The optional population of control testing papers from libraries of standard tests, risk registers, and policy conformance exercises.  All work papers include options for embedded links, hyperlinks, and attachments.

Sword Audit Manager

Your solution to effective Audit and Assurance

Sword Audit Manager Features

Audit Planning

Sword Audit Manager provides functionality for strategic planning of activities over multiple periods and generation of the annual plan of work supporting a risk-based audit methodology. It also provides detailed tracking and reporting of all activities, both planned and unplanned. Additionally, Sword Audit Manager supports Agile audit planning and management reacting to intelligence or requests received from the business.

Intelligence/Horizon Scanning
  • Module to record intelligence logged or informed by the business or through horizon scanning. 
  •  Ability to risk assess intelligence according to configurable parameters. 
  •  Incorporating intelligence into the audit plans. 
  •  Analysing trends and themes in intelligence.
Strategic Planning
  • Audit work prioritisation to optimise the risk and control coverage and maximise the assurance given on management’s assessment of their risks. 
  • Multiple options for linking risks to the audit universe if Sword Operational Risk Manager is used for the risk register. 
  • Audit Needs Risk Assessment model configured to your methodology. 
  • History table of needs assessments scores. 
  • Activity scheduling routines to optimise planning. 
  • Balance activities planned with available audit resource to ensure they are realistic. 
  • Risk assessing intelligence and incorporating into plans.
Resource Management

The resource management functionality facilitates optimisation of resources as well as developing the skills and experiences of staff.

  •  Staff resource and skills module.
  • Optional annual staff budgeting and tracking to assist with strategic planning and work allocation.
  • Staff Scheduling system including Gantt charts to show work allocation, availability and time conflicts.
  • Weekly timesheets system.
  • Includes scheduling and recording of both assurance and administrative functions.
  • Analysis of time and variances by team, person, activity, task and period.
  • Utilisation and forecasting reports to assist with resource optimisation.
Annual Plans & Detailed Tracking of Activities

The resource management functionality facilitates optimisation of resources as well as developing the skills and experiences of staff.

  •  Activity planning including audits, compliance reviews investigations, projects and administrative functions.
  • Progress tracking with target, revised and actual milestones/progress points providing identification of overdue activities at any milestone.
  • Generation of the terms of reference and other activity correspondence.
  • Annual plan budget and progress reporting.
  • Management of contingency budgets.
  • Year-end processing and reporting functions.
  • Analysis and reporting of activities by user-defined categories.
  • Audit summary for audit year end reports.
Working Papers System

The system includes a versatile working papers system with a wide range of standard and optional working papers.

  • Library facility for standard working papers and reference material.
  • Range of working papers types including Risk and Control Matrix, Outcomes Schedules, Checklists, Walkthrough tests, Planning documents and other workpaper types configured as required.
  • Optional allocation of working papers to staff.
  • Optional automatic referencing of working papers.
  • Links with Sword Operational Risk Manager to generate working papers of risks, controls and optionally tests identified by management.
  • Cross-linking between any working papers.
  • Upload of attachments for audit evidence.
  • Export of all working papers to MS Word and Excel templates.
  • Export of all working papers to MS Word and Excel templates.
  • Electronic review and sign-off of documents including generation and tracking of review points.
  • View of all unsigned documents for an audit.
  • Dashboards for tasks and workflow.
  • Reporting of working paper issues/ themes across audits.
  • Generation of issues or required further actions from any working paper where weaknesses are identified.
  • Option to separately record issues, findings and actions.
  • Full Issues and Actions Tracking System.
  • Comprehensive security model.
Audit Report Generation and Action Tracking

Automatic generation of the audit report based on the Executive summary and list of actions generated from the audit working papers improves both efficiency and standardisation on the audit. Risk and Audit Actions are reported and tracked together through the action tracking area.

  • Finding a discussion schedule. Automatic generation of the final audit/ activity report into MS Word, Excel or PowerPoint.
  • Optional multiple templates for different report styles.
  • On-line response by action owners.
  • Analysis and reporting of common issues.
  • Email alerting of overdue actions.
  • Proactive alerting of pending items.
  • KPIs and statistics of action clearance times.
  • Comprehensive security for access.
  • There is an extensive list of available reports as well as end-user reporting tools for writing your own reports.
Post Activity Questionnaire

Post activity questionnaire to gain feedback from the business on the benefits of the audit/activity and to identify where improvements could be made through training or further discussions with the business.

  • Organisation maintained questionnaire with up to 60 questions. 
  • Configured to your scoring system. 
  • Optional online completion by the business. 
  • Optional comments by question. Analysis of results by business unit, activity, manager, lead auditor, staff and question.
KPIs and Statistics

Throughout the system, standard and organisation-specific key performance indicators and statistics are generated.

  • Data maintenance views to ensure key data is complete before the generation of reports.
  • Filter data for output including by period, team, manager, region, etc. Easy identification of problem areas.
  • Export of statistics to MS Excel for charting, further analysis and reporting.
  • Export of data to scorecards.
  • Audit performance against deadlines.
  • Progress against budget.
  • Configurable by your Administrator.
Reporting

The system supports a wide range of standard and custom reporting options to ensure your exact reporting requirements are met and the system includes over 300 standard reports which may be tailored to meet your exact requirements either by your Administrators or by your implementation team.

As the data is held in a single SQL database multi-dimensional reporting is available through a range of reporting tools and options including:

  • Multi-component dashboard reports. 
  • Export of any filtered data to MS Excel. 
  • Export of selected data to MS Excel/MS Word/ MS PowerPoint templates. 
  • Heat Maps and “Blob-Reports” of risks. ‘Click and Drag’ report generator for end-users. 
  • Integration with Tableau Visualisation tool
Questionnaires

An online system for designing and issuing questionnaires, collating responses certification from the business units.

  •  Generate surveys for Business Units and business users on an ad-hoc or cyclical basis. 
  •  Design and store and maintain a library of questionnaires for issuing as required. 
  •  Select from a range of response types and validation criteria. 
  •  Email notifications and reminders to questionnaire respondees. 
  • Online responses by management including supporting replies with comments.  
  • Full progress control sign-off and tracking of responses.  
  • Analysis of responses including trend reports of responses over periods. 
  •  Additional ad-hoc questionnaires to seek views on the control environment, risk appetite, compliance or for any purpose.
Dashboards and Alerts

User specific on-screen dashboards configured to meet the needs and role of the user to highlight issues, items for review or update, trends and significant changes.

  • Multiple dashboards are available by user. 
  • Dashboards configured by the Administrator to meet the exact needs of the user.
  • Lists of items or graphical analyses available within dashboards.
  • Email alerts throughout the system with links to the items requiring attention.
  • Both manually instigated and scheduled emails supported.
  • Logs of emails sent and received.