on 2017-11-0610:23 PM - edited on 2023-07-2801:16 PM by ChristineTran
Regulated organizations are subject to frequent audit examinations by various government agencies. Interaction with regulatory bodies typically involves significant time investment since identifying, locating, and gathering required documentation and evidence is often a manual process. With little visibility into exam and finding status, management teams are often caught by surprise by the resulting fines and penalties.
The Archer Exam Management app-pack enables organizations to more effectively prepare for, document, and manage the processes for conducting an audit examination. This offering provides a centralized process to efficiently manage scoping, data collection, collaboration, and the post analysis phase of an exam. Organizations can track the phases of an exam; assign, collect, and track information requests; log hours worked on each phase; and maintain visibility into related loss events. In addition, robust reporting tools and graphical dashboards provide professional looking reports to inform executives of exam status, findings, and remediation activities.
With Archer, organizations can establish a consistent process to manage regulatory requests, increase response consistency, reduce duplicate information, minimize the exposure of sensitive information, and reduce the time required to aggregate and disseminate the regulatory examination data.
Simplify collaboration and data collection of evidence for regulatory examinations
Reduce the cost and duration of regulatory examinations
Quickly identify and communicate with Information Owners
Eliminate duplicate requests for information
Reduce penalties or fines from regulatory exam violations
Improve exam finding remediation
Analyze past examination results and trends in preparation for future exams
Provide executives with visibility into exam status and findings
Archer Exam Management app-pack enables organizations to:
Identify the scope, impacted portions of the business, and purpose of the exam
Assign data collection tasks, notify Information Owners, and collect requested evidence
Review internal evidence and mark for distribution to examiner
Track staff hours spent
Manage findings, remediation plans, penalties, fines, and reimbursements
The Archer Exam Management App-Pack is an offering provided through the Archer Exchange to enhance your existing Archer implementation. To learn more about the Archer Exchange, please visit the Archer Exchange on the Archer Community.
For Additional Support
To learn more about this offering, please contact your Account Rep for additional details. For technical support questions regarding this offering, please open a support case.