Caso Estudio Tizor

Case Study: ICICI BANK – INTERNAL AUDIT DEPARTMENT PENTANA AUDIT WORK SYSTEM IMPLEMENTATION

Introduction
Emerging trends in the banking sector due to globalisation, liberalisation, increasing environment complexity, regulatory requirements & accountability is driving banks in India to adopt & implement technology driven solutions to manage a structured approach to governance, risk &compliance initiatives. Management requires accurate information on risk assessments, effectiveness of controls & regulatory compliance to efficiently manage banking operations. It is becoming increasingly essential to implement technology driven solutions to manage & provide critical information on audit & assurance initiatives. This case study covers the details of the implementation of Pentana AuditWork System into ICICI Bank, presenting the challenges, solutions and the results achieved.

Customer Profile
ICICI Bank, a large private sector bank with global operations, has implemented large technology based solutions for various business needs. They were in need of an effective integrated system for their Internal Audit Department (IAD), and their business requirement was for an ‘end-to-end’integrated technology solution for risk based internal audit management. The bank implemented Pentana Audit Works System (PAWS), Retain Resource Planner through Pentana Ltd and AUDITime Information Systems (I) Ltd for consulting and implementation services, successfully achieving their requirements while adding substantial value and benefits to their initiatives.

KEY BENEFITS: A Single Stop ofAudit Information for all Stakeholders Increased Efficiency and Effectiveness in Audits and Assessments Risk Based Audit Planning with ‘real-time’ Information on Patterns & Trends in Risks Boost in Productivity of Auditors & Effective Mechanism of Monitoring Audits Achieved Significant Cost Savings Eliminated Gaps and 40 % Duplication in Coverage Improved Visibility, Enterprise Wide Risk andAudit Landscape Report Automation Online ‘real-time’ Issue Closure Cycle Score & Parameter Based Rating System with Qualitative Dimension of Risk Analysis Adoption of Best Practices and Adherence to RBI Guidelines

Case Study: ICICI BANK – INTERNAL AUDIT DEPARTMENT PENTANA AUDIT WORK SYSTEM IMPLEMENTATION

STRUCTURE • Complex audit universe structure. • Complex business domain structures. •Complex representation needs of business units in the risk, audit and compliance department. • Dynamic and evolving structures due to business volatility.

• Well defined framework for audit universe, structure to include all business processes, units, functions and all types of audits. • Scalable and flexible structure created to manage dynamic changes in business structures. • Structures presentedby business units were represented in PAWS incorporating perspectives pertinent to the audit department for performing their activities. • Structured parameters for planning based on regulatory & management requirements implemented for all domains. • Centralised one system for planning and scheduling. • Unified approach to Risk Based Audit Planning (RBAP). • Better visualisation of patterns &trends by extensive collation of risk assessment results for present & past assessments. • IT governance & risk parameters defined for Information System Audits. • Efficient, effective, streamlined implementation of risk assessment and audit process enabled auditors to concentrate on areas with high risk, reduce efforts for mundane tasks added, increase frequency, repeatability and reduce costs. • Allaspects of present processes replicated in the system. • Simplified extensive issue and action closure processes incorporated into the system to make it online and real-time.

AUDIT PLANNING • Planning – ‘structured for some domains, ad-hoc for others.’ • Absence of uniform and standardised planning. • Implementing risk based audit planning for all domains. • Necessity for clear visualisation...