SAP Audit Management


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What is Audit Management?

Audit management is an important process for companies looking to stay ahead of external and internal audits, stay compliant, and save time when it comes to auditing. Audit management seeks to correctly implement board-approved audit directives.

What is Audit Management?

Audit management is an important process for companies looking to stay ahead of external and internal audits, stay compliant, and save time when it comes to auditing. Audit management seeks to correctly implement board-approved audit directives.

What is SAP Audit Management?

SAP Audit Management can help ensure company processes around SAP and the data it contains are followed. Struggling to meet audit standards and stay compliant can have major consequences for companies — from external fines to the breakdown of internal processes. Staying on top of audit management requires work and documentation. If done manually, it can be an arduous process with a high potential for error. That’s where companies turn to automation and audit assistant through technology.

Audit management software may include some or all of the following features:

  • Risk evaluation
  • Audit metrics reporting and dashboarding
  • Digitization of audit documents
  • Audit report automation
  • Issues tracking and monitoring

Vendors such as Protiviti and RSM provide audit management solutions that seek to automate much of the audit management process. Additionally, tax-focused vendors such as Vertex have tools that automate compliance, which will ultimately making audits easier through better reporting and fewer issues.

Key Considerations for SAPinsiders:

  • In our recent GRC research, we found rapid changes within compliance and data privacy regulations to be a top driver. However, only about a quarter of companies surveyed said they were looking to grow internal audit as a skillset. This suggests that many companies have what they need for internal audits — if your company does not, you may be falling behind.
  • In that same research, we found audit management to be one of the most used GRC solutions, in place at over half of organizations. Improving GRC automation was a top strategy, while facilitating audit planning and performance was also a top strategy. Leading companies are prioritizing audit planning and performance and looking to automate.
  • Audit your audit planning process. Regulations around data privacy have made major changes in recent years, and regulatory requirements are likely to continue to change more frequently than we’ve seen before. Planning for audits and conducting regular internal audits is important, and you may need to find a way to be more agile to stay compliant. Of course, getting GRC processes streamlined and consistent in the first place will also help audit planning.

16 results

  1. Moving to SAP S/4HANA? Avoid these common audit issues

    Although transformative to businesses, SAP S/4HANA implementations have revealed some common, audit-relevant issues that could create risks for organizations. Because much of the focus of these implementations (and upgrades) is on ensuring that business functionality is enabled and the system goes live quickly, controls and security considerations are often neglected, or severely under-scoped. Implementation issues,…
  2. Effective Internal Auditing in the Digitalized Era: Adding value to the business

    We see a strong push towards organizations adopting cloud-based software while still having on-prem operations, automation of as many processes as possible, use of many types of artificial intelligence, and ongoing decentralized and home working. What needs to be audited, and how it is audited, is changing. In this session you will: - Obtain a…
  3. Video: Delivery Hero’s Auditing Success Depends on Innovation and a Risk-Based Approach

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    Delivery Hero’s vision is to always deliver an amazing experience fast, easy, and to your door. This may not seem unusual for an order and delivery service organization, but with over 1 billion orders per year, and continued growth and expansion, it appears the company is delivering on its ambitious vision. Berlin-based, Delivery Hero is…
  4. Case Study | How Delivery Hero’s better audit management helped improve the customer experience

    On the face, internal audit processes are rather elementary. Planning, fieldwork, reporting, and follow-up very familiar to us and we are used to performing tasks within these sub-processes in all of our audits. However, how do we leverage technology perform our internal audit tasks in a more effective and efficient manner? The devil is certain…
  5. Bridging the Cybersecurity Gap in IT General Controls (ITGC)

    Compliance with regulations like Sarbanes-Oxley (SOX) often require a set of controls in place to mitigate risks to the integrity of financial reporting. Current ITGC testing performed by internal and external auditors is only focused on one slice of access risk. Different entry points into SAP systems are overlooked and present a higher level of…
  6. Case Study: Innovation in Audit Management – Enabling True Alignment Between Risk & Audit at Equinor

    Driven by the need to effectively translate company strategy, ambitions, and risks into actions and results; Equinor, a multinational energy company with operations in more than thirty countries, is utilizing an integrated performance management and risk solution powered by SAP UI5, SAP BW on HANA, SAP BusinessObjects Lumira, and SAP Analytics Cloud. Taking it one…
  7. CIO’s Perspective: BekaertDeslee Created A Smart Change Management Solution to Achieve Audit Comfort

    Change is a fact of life for many organizations, but constant change to SAP systems also carry both risk and discomfort for auditors. In this executive keynote by Rik Holvoert, CIO of the world leading manufacturer of mattress textiles, BekaertDeslee, attendees will learn how this medium-sized but globally operating company, manages compliance and provides auditing…
  8. Expert Q&A: Modernize your SAP Audit Strategy

    Compliance is always a moving target as emerging regulations and business conditions warrant new approaches to protecting your organization. Join SAP expert Steve Biskie as he answers key questions on what the different type of audits you need to prepare and how to pass them with flying colors. Understand what documentation you need to prepare…
  9. Surviving an SAP Audit — How to Keep the Auditors out of your Hair

    This session will provide tips and practical advice that will enable you to not only survive an SAP audit but do so in a way that keeps your sanity and a smile on your face. You’ll learn about the different types of audits and how these might impact auditor expectations and you will come away…
  10. Audit Preparation

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    Preparing for new and potential scenarios, regulations, and risks requires increasingly complex auditing roles. How can you ensure that your organization is prepared for audit and that your internal and external audit teams have everything they need? Sessions in this track will cover best practices and thought leadership to help you understand how to improve…
  11. Better Manage Enterprise Risk and Streamline Audit Lifecycle Management with SAP Audit Management (Part 2)

    Reading time: 13 mins

    See how SAP Audit Management can help improve the audit execution and follow-up activities while enforcing process control and risk management. This content is available to (General or Premium) members. Sign in or Join for free! Sign In Become a Member
  12. Better Manage Enterprise Risk and Streamline Audit Life Cycle Management with SAP Audit Management (Part 1)

    Reading time: 18 mins

    See how SAP Audit Management can help improve the different facets of the internal audit life cycle including audit planning and preparation while enforcing process control and risk management. Key Concept Audit is a process that defines the time, scope, resources, and other attributes for an audit engagement and documents evidence, results, recommendations, and reports…....…
  13. Better Manage Enterprise Risk and Streamline Audit Lifecycle Management with SAP Audit Management (Part 1)

    Reading time: 17 mins

    See how SAP Audit Management can help improve the different facets of the internal audit lifecycle, including audit planning and preparation while enforcing process control and risk management. This content is available to (General or Premium) members. Sign in or Join for free! Sign In Become a Member
  14. Drive Risk-Based Auditing in the SAP Audit Management System

    Reading time: 33 mins

    Learn how to configure SAP Audit Management to harness the benefits of risk-based auditing while integrating the system with SAP Process Control and SAP Risk Management. Key Concept SAP Audit Management is part of SAP Assurance and Compliance Software (powered by SAP HANA) that provides enterprises with an end-to-end audit management solution. The product is…...…
  15. Are You Smarter Than an Auditor?

    Reading time: 1 min

    The following quiz will test your knowledge about SAP risks and controls. It consists of 13 questions, and covers common areas that may be included in an internal audit review of an SAP system, including security, change control, basis settings, and configurable controls. A good internal auditor, specifically one familiar with auditing an SAP system…...…
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    Reading time: 3 mins

    In a recent interview with CNN Expansion, Aristoteles Nunez, the head of Mexico’s Tax Administration Services (SAT), stated that the Mexican government will begin deploying electronic audits in the second half of 2016. This is a move the SAT has already been gearing up for over the past few years by moving much of its…