ComLine Products has developed this software which covers the complete functionality of Audit department of a bank. It has been developed to help not only the personnel of Audit department, but also keeping in mind the convenience of external auditors, branch managers and requirements of the top management. The software automates various Audit operations and has built-in Work Flow functionality. We believe implementing this software will result in better internal control systems, which are crucial to the conduct of banking business not only to lead the bank more profitably but also in compliance of prudential guidelines. The software is being currently used by one of the largest co-operative banks in the country.
It covers all aspects of Audit. It supports different Types of Audits for different Types of Branches. It also covers other functions of Audit Department like Empanelment of External Auditors and Scheduling of Internal Auditors.
Most of the features can be easily customized and hence allows Audit Department to enforce Audit Policy.
It extracts data from Core Banking Solution and presents it to the Auditor.
It provides separate login for all users. It allows Audit Department to control the Access Levels permissible for the users.
It is fully automated software which captures queries and remarks by auditors online. Work-flow to provide these queries to the respective Branch Managers for compliances and later to Audit department to accept/reject these compliances is also built in. This saves a lot of valuable man power and time for the bank.
It provides upload and download of data from central computer during off-peak hours. This way, it uses very minimal band-width during the normal office hours.
It generates various types of reports. For example: Audit Reports, MIS Reports, Reports for Audit Committee, etc. Also, since the data pertaining to queries raised by the Auditors and their current status is stored in the database, it can be used for powerful reporting to extract very vital information for top management.
Data To Be Audited
Supporting Data
It allows auditors to give Risk ratings while doing audits. This helps audit department tracking the queries priority wise.
Audit Rating
Marking the Audit as Complete
Audit Completion Certificate
Follow up of Queries Raised
Reminders
Closure Certificates
Empanelment of External Auditors
Scheduling of Internal Auditors
Marking Auditor’s Queries for Audit Committee
Separate Logins for all Users
Password Encryption and Password Expiry Policy
Menu Level Access Rights for User Groups
User Level Access Rights for Accepting and Authorizing Compliances
Assignment of Users to Branches
Audit Status
Pending Queries Status
Age wise Pending Queries
Queries related with KYC Norms
Reports for Audit Committee
Queries related with Overdue Advances
New Queries sent to Audit Committee
Queries discussed in previous meeting, and which are complied after it.
Queries discussed in previous meeting, and which are still pending.