MetricStream CEO Addresses UAE IIA Members on 'The Changing Face of Internal Audit'
The discussion provided insights on how internal auditors must redefine their role to drive value in a fast-changing business landscape.
- (1888PressRelease) September 25, 2010 - MetricStream, Inc.,Internal auditors are no longer limited to audit management and control assessment. They are now in a position to transform the business landscape by expanding their functions to include strategic and operational risk management. These were the thoughts expressed by Shellye Archambeau, CEO of MetricStream Inc., as she addressed the UAE wing of the Institute of Internal Auditors (IIA) in Abu Dhabi on Sunday, September 19, 2010.
The event saw Ms Archambeau providing insights on how the business landscape has completely altered. Business agendas are now determined by external forces such as regulators, increasing commodity costs, environmental changes, terrorism and war. In this risk-ridden environment, auditors are being called upon to broaden their role beyond control assessment to embrace risk management, compliance management, fraud prevention and collaboration with key stakeholders.
MetricStream provides a range of world-class GRC solutions to help internal auditors confidently meet these new imperatives and challenges. Recognized by leading organizations across the globe, MetricStream has emerged as the market leader in Governance, Risk and Compliance (GRC) solutions. The company is renowned across industries for its comprehensive, flexible and scalable suite of products.
MetricStream Audit Management Solution provides best-in-class functionalities to help internal auditors improve compliance and mitigate risks. Using the web-based software, auditors can manage the entire audit lifecycle including audit planning and scheduling, field data collection, development of audit reports, and review and implementation of audit recommendations. Embedded best practices ensure compliance with industry specific regulations such as Basel II, HIPAA and NERC, as well as cross-industry mandates such as SOX and NIST. Automated functionalities help to reduce costs and manpower while increasing efficiency.
MetricStream solutions are based on an integrative pattern of functioning. They allow auditors to manage all risk, compliance and audit requirements across the enterprise using a central platform. In this way, collaboration between departments, business functions and geographical locations is enhanced.
Added features like centralized reporting dashboards, built-in remediation workflows and automated alerts improve visibility into the auditing process and enhance the effectiveness of auditing. They also help auditors shift their focus from basic audit management to value-oriented functions such as analyzing and recognizing trends in audit data.
About MetricStream
MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC) and Quality Solutions for global corporations. MetricStream solutions are used by leading corporations such as Pfizer, Philips, NASDAQ, UBS, SanDisk, Subway, Fairchild Semiconductor, SunTrust Banks and Cummins in diverse industries such as Pharmaceuticals, Medical Devices, Automotive, Food, High Tech Manufacturing, Energy and Financial Services to manage their quality processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as by over a million compliance professionals worldwide via the www.ComplianceOnline.com portal. MetricStream is headquartered in Palo Alto, California and can be reached at www.metricstream.com.
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