APEX (Audit Planning and EXecution) is a highly customizable software product for Audit Management. APEX is a COTS- Commercial Off-the-shelf software. APEX can be used for performing Internal Audits and External Audits.
APEX's Web Component is the key to collaborative work between Auditors and Audit Teams.
The Web Component is a central server component that acts as the hub for audit work.
Auditors can log in into the APEX server and perform audit related tasks which include management of:
- Audit Entities
- Objective Areas, Objectives, Risks, Controls
- Audit Plans
- Audit Teams
This solution covers the entire gamut of the activities of an Audit Institution, starting from Planning to generation of Work Orders. From Monitoring of the Audit Progress to creation of reports and Audit Status. Management of Work Papers of Audit in Office (Word, Excel) file formats. Standardized forms used by the Auditing organization can also be computerized and document based workflows implemented around the forms.
APEX comprises of two components: A central Web Component, and a Desktop Component that is installed on every Auditor's computer or laptop.
Main advantages :
- Existing features can be customized to suit requirements thus reducing development effort
- APEX Manages the complete Audit Process, from Annual Planning to the Reporting stage
- Close integration with Microsoft Office software to enable offline working
- Each Auditor can view and print his own schedule for the entire plan period and send updates of the Audit status.
- Functional audits under each audit entity can be planned and reported.
- Using the Skill Matrix module, the Management can frame its Personnel Training and up-gradation policy.
- Using the Audit Status module, the Management can view the status of Audits at any point of time.