For Compliance, Risk, and Governance teams
Gain control and efficiency with our comprehensive dashboard
Effortlessly centralize document and file management securely
Organize and streamline activities with automated scheduling calendar
Empower compliance with timely notifications, alerts, & deadline tracking
Ensure timely response, accountability, and risk mitigation through escalations
Gain compliance control, mitigate risks, & save time with framework library
Streamline assessments. enhance collaboration, ensure compliance.
Strengthen accountability, compliance, and transparency with audit logs
See our platform in action for free. No credit card required!
Efficiently manage GRC using your everyday tools
The Ultimate Agile Solution for Compliance Teams
Goin 360-degree visibility with intuitive compliance dashboard
Stay informed and proactive w ith notifications & alerts
Simplify file and document management with ease
Automate compliance workflows for seamless efficiency
Streamline compliance with customizable framework library
Enable collaboration across locations, departments, and teams
Centralize compliance work for streamlined efficiency
Goin actionable insights with robust reporting feature
The Essential Solution for Empowered Risk Managers
Identify and track risks using the centralized risk register
Enable collaboration across stakeholders for better resolution
Streamline risk assessment with process automation
Enhance risk visibility with intuitive and centralized dashboard
Establish connection across teams, departments, and locations
Elevate risk awareness through proactive notifications
Manage files & evidence centrally for efficient control
Enhance decision-making with actionable risk insights
An Unparalleled Solution for Policy Management Teams
Efficient policy distribution through central repository
Streamline policy drafting and lifecycle management for simplicity
Simplify compliance with comprehensive policy templates
Simplify policy management with efficient version control
Accelerate policy approvals with automated processes
Collaborate seamlessly with cross-functional teams
Effortlessly measure policy training effectiveness with assessments
Manage policy life cycle with automated reminders and notifications
The Complete Solution for Empowered and Efficient Audit Teams
Maintain transparency and accountability with audit trails
Organize and streamline audit with automated scheduling and calendar
Centralize audit files for streamlined evidence collection and management
Stay informed with proactive audit activity notifications & alerts
Streamline audit assessments for comprehensive compliance
Bring audit plans, activities into the single space for complete control
Simplify audits with automated workflow efficiency
Gain 360-degree visibility with intuitive Audit dashboards
Empowering success through streamlined compliance, risk, and governance solutions
Empower your business with simplified regulatory compliance solutions
Empower your enterprise by elevating risk management practices
Transform GRC operations for optimized efficiency and effectiveness
Mitigate risks with seamless third-party risk management
Check out our comprehensive guides for seamless management!
Empower your business with pre-built customizable regulatory and control frameworks
Achieve quality success through ISO 9001 Framework
Deliver compliance excellence with the power of SOX framework
Simplify your security approach with ISO 27001 framework
Navigate cybersecurity excellence with NIST framework compliance
Promote data security through compliance with PCI DSS framework
Unlock trust and security with SOC 2 framework for compliance
Empower your industry with unmatched effectiveness and efficiency
VComply for the Financial Services Industry
VComply for the Manufacturing Industry
VComply for the Banking Industry
VComply for the Non-Profit Industry
VComply for the Higher Education Industry
VComply for the Food & Beverages Industry
VComply for the Healthcare Industry
VComply for the Construction Industry
Stay connected and grow alongside VComply
Stay informed on compliance, risk, audit, and policy management trends
Streamline work with comprehensive guides for seamless management
Navigate complex GRC challenges with valuable e-books
Discover user stories for valuable insights into user-experiences
Access comprehensive definitions and explanations for essential GRC terms
Gain a comprehensive understanding of the features, benefits, and capabilities
Discover insights from experts on the latest happenings in GRC
Learn tips, tricks, and insights to make compliance work for your organization through our expert webinars!
Utilize our go-to templates and checklists to help you stay compliant
Keep in sync with the latest changes by updated framework templates
Get compliance assistance through VComply compliance checklists
Download policy templates that you use to create guidelines and processes.
Discover the power of VComply through our detailed use case guides
Get to know what make VComply the best GRC platform on the market
Discover VComply's value, mission, and vision for better GRC future
Stay informed about VComply and GRC industrylatest updates
Join VComply, redefine compliance, unleash potential
Know about our partnership program
Get to know our board of advisors
Stay up to date on the latest VComply news
VComply offers unparalleled Sales and Customer Support
Send us your sales queries and let us know your needs
Get 24/7 quick and dedicated support anytime
Lets get social
Follow us on LinkedIn for company updates
Join VComply on Twitter for live updates
The mention of the very word audit evokes panic for business owners and compliance officers. You might be surprised to know that auditing can become a painful experience even for the auditors. Tight audit budgets, number of policies to flick through, lack of cooperation from stakeholders can all cause auditors’ obstacles.
We spoke to some internal auditors, and here are some of the major challenges they face:
If the organization you audit does not understand the importance and scope of the audit and does not provide you enough information, then it becomes difficult for you to complete the audit processes.
Make clear what the expectations are. Agreeing the terms of audit engagements is one of the requirements. It ensures a clear understanding and communication of the auditor’s responsibilities and the duties of the management. As an auditor, you need to make your organization understand that you intend to identify risks and then help them make a remediation plan.
Hear what the leadership team and staff have to say. You need to understand what is working for them and what is not, and what do they want to improve in the organization. Ultimately, you need to suggest improvements to help them get what they want. Once you get their cooperation, they will share the evidence and data you need!
If you fail to define the audit scope, there are chances that audit conversations can spill outside the scope, and the audit can become vague. At the same time, if you find some critical findings during the audit, it’s worth mentioning and exploring, even if it’s beyond your audit work scope. The internal controls implemented to be compliant with standards like PCI DSS, NIST, GDPR, and SOX could be your primary focus.
The auditors’ responsibility lies in finding out whether the defined requirements are met. Instead of looking for whom to accuse, the focus should on on remediation. However, it does not undermine that the auditor has to let go of finding on blatant fraud. The auditor as well as the management is responsible if a fraud is ignored unless proven otherwise. It may arise due to management override of internal controls. The auditor has to set aside all assumptions and apply professional skepticism when carrying out their audit. The appropriateness of journal entries will ensure that there are less chances of collusion. Segregation of duties should be in place. Any inappropriate or unusual activity should be flagged. Any provision or accounting estimates should be thoroughly checked for fraudulent intentions and biases. Hence, a retrospective review of management judgments and assumptions related to significant accounting estimates is important.
This article has tried to highlight major challenges that an auditor faces. The auditor’s primary goal is to make the organization better. A good review process by the audit firm may also flag any additional areas as deficiencies in the process. Thus, ensuring robust internal controls and timely compliance shall help the company to emerge victorious in such scenarios. VComply is a robust compliance and audit management software that helps auditors analyze and report on audit findings.
Ready to set up a trial of VComply and automate your compliance process?