Ncontracts Audit Management Software is a cloud-based solution designed to support internal audit functions within financial institutions. The system provides tools for risk-based audit planning, audit execution, workpaper documentation, findings management, and reporting. It centralizes audit activities in a structured environment to improve oversight, documentation consistency, and coordination with risk and compliance functions.
Vendor
Ncontracts
Company Website
Ncontracts Audit Management Software is a cloud-based solution designed to support internal audit functions within financial institutions. The system provides tools for risk-based audit planning, audit execution, workpaper documentation, findings management, and reporting. It centralizes audit activities in a structured environment to improve oversight, documentation consistency, and coordination with risk and compliance functions.
Key Features
Risk-Based Audit Planning Supports development of audit plans aligned with institutional risk.
- Annual and multi-year audit planning
- Risk assessment inputs
- Audit universe management
Audit Workflow Management Structured execution of audit engagements.
- Engagement setup and scoping
- Task assignment and scheduling
- Milestone tracking
Workpaper and Documentation Management Centralized repository for audit evidence.
- Electronic workpapers
- Document storage and version control
- Standardized templates
Findings and Issue Tracking Identification and monitoring of audit observations.
- Logging of findings and recommendations
- Risk rating classification
- Management response documentation
Reporting and Dashboards Audit reporting for management and board oversight.
- Automated audit reports
- Status dashboards
- Trend analysis across engagements
Corrective Action Monitoring Follow-up on remediation activities.
- Action plan tracking
- Target date monitoring
- Escalation of overdue items
Benefits
Improved Audit Efficiency Standardizes audit processes and documentation.
- Reduced manual tracking
- Consistent engagement workflows
Enhanced Risk Alignment Links audit activities with enterprise risk data.
- Risk-informed planning
- Coordinated oversight
Stronger Governance Oversight Provides structured reporting to leadership.
- Board-ready reporting
- Transparent audit status
Regulatory Examination Support Maintains organized documentation for exam review.
- Complete audit trail
- Accessible historical records
Accountability and Follow-Up Ensures findings are addressed and monitored.
- Clear ownership of action items
- Tracking of remediation progress