Audit Management Plans

Audit management plans show how audit documentation is controlled, audit processes are managed, and an internal audit is scheduled and conducted.

Some companies manually control and route all of their documentation, including a large amount of documentation that is subject to audits. This method, regardless of how outstanding the company's audit management plan is, results in serious delays in the completion of internal audits and out-of-date audit information and reports.

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How Can Audit Management Plans and Audit Software Help Your Company?

To be readily available, all information related to an internal audit needs to be controlled. Audits also need to be scheduled and managed in a timely manner. This enables an audit management plan to be effective.

MasterControl Software Facilitates Accomplishing Audit Management Plans

Many companies around the world have shifted their entire business models away from manual or hybrid audit management systems to more efficient electronic systems. This conversion has been extremely advantageous, as it brings centralized control and better manageability of procedures for those companies. In order to ensure that all processes executed within the system conform to documented standards, it is necessary to coordinate a carefully planned audit process. Management must ensure that audits are directly aligned with the company's overall business goals.

In the typical course of doing business, many types of audits are required: internal, external, customer-related, etc. Each type of audit highlights an important aspect of the business and helps evaluate the processes and people related to each specific area. Audits are extensive in nature, requiring time, manpower, and other resources. As such, management must ensure that audits are accurate and helpful in assessing the respective business area. To be successful and compliant, companies must document each phase of an audit and make this information available to decision makers and stakeholders.

The MasterControl Audit software solution facilitates the sharing of ideas-ideas that can then molded into a proper audit management plan through a secure online repository. This centralized database is easily accessible by authorized users and creates a foundation for a sound audit management plan through collaboration and communication between users. Because the system is web-based, users can connect and collaborate from virtually anywhere.

MasterControl Software Provides the Neccessary Tools for Building Comprehensive Audit Management Plans

MasterControl Audit provides the necessary basis for developing audit management plans that form the core of successful audits. With MasterControl, each phase of audit planning, execution, monitoring, and management is automated and streamlined. The first step in the development of an audit management plan-a process facilitated and simplified by MasterControl Audit-is the identification and outlining of potential risks that may impact various aspects of the business. Once identified, all risks can then be prioritized, which allows management to evaluate the impact of each risk in the business.

Because risk assessment is the foundation for a sound audit management plan, MasterControl Audit applications have been designed to allow management to assess and mitigate risks. Identified risks can then be interlinked with other relevant business factors to constitute the larger audit management plan.

Audit management plans not only focus on allocating resources for controlling and managing risks, but also gauge the efficiency of associated processes. MasterControl Audit helps management conduct audits that are divided into different stages to ensure that each step is tracked and documented for the best possible outcome. Companies can run multiple audits in parallel with varied frequency while still maintaining the ability to constantly monitor the processes and people involved.

MasterControl Audit Management Plans Software Provides the Business a New Direction

Audits not only pinpoint issues but also help bring about positive change in the way business practices are conducted. MasterControl Audit is useful in tracking and recording all relevant issues and translating findings in an understandable format through comprehensive reports. These reports help management devise strategic plans for avoiding and eliminating obstacles and improving business practices.

Since MasterControl Audit can be seamlessly integrated with other offerings that comprise the MasterControl solution suite, it presents management with the option of tracing any issue and directly launching related processes and procedures (a CAPA form, for example). This provides the capability to fix the root cause of an issue along with its occurrence in the system. Moreover, management can also implement a quick fix to prevent occurrence of the same issue in the future. Therefore, an efficient audit software solution operating on a thorough and effective audit management plan holds the key to a successful audit program. With MasterControl Audit, executives and stakeholders can be assured of a smooth audit process that brings efficiency and control in executing procedures that will ultimately make the organization more competitive and more profitable.

For More Information on Audit Management Plans

To learn more about quality auditing, and how automated quality assurance audits help companies meet the requirements of audit management plans, please feel free to contact a MasterControl representative