SOURCE: OpenPages

October 22, 2007 08:30 ET

OpenPages Introduces OpenPages Audit

New Fully-Integrated Module Acts as a Key Element to Implementing an Enterprise-Wide Risk Management Approach

WALTHAM, MA--(Marketwire - October 22, 2007) - OpenPages®, the leading provider of enterprise risk management solutions that optimize business performance, today announced the availability of OpenPages Audit, a fully integrated solution for auditing risk management across the enterprise, affording internal auditors with the ability to test and validate the broader risk and compliance initiatives within their organization.

Fully-integrated with other modules on the OpenPages platform, OpenPages Audit is a key building block for implementing an enterprise-wide risk management approach. It empowers internal audit departments to champion risk management, acting as either a strategic partner or independent overseer to management. OpenPages Audit delivers an integrated, closed loop approach to risk management, driving visibility, and confidence in an organization's risk posture.

"With increasing regulatory, legal and operational risk management obligations for modern businesses, internal auditors face a mounting challenge as organizational risk profiles become increasingly complex. Audit departments are constantly being asked to do more with less," said Gordon Burnes, vice president of marketing for OpenPages. "Traditional docu-centric software solutions, paper-based processes and even asynchronous electronic processes performed in silos lead to mounting inefficiency, which distracts audit from performing their core function -- assurance and risk management. OpenPages Audit addresses these challenges for internal auditors today."

Organizations that leverage OpenPages Audit as part of a broader enterprise risk management strategy enjoy the following key benefits:

--  Advanced Risk Assessment and Audit Planning: Provides users with the
    capability to conduct enterprise-wide risk assessments and risk rank the
    audit universe -- by entity, process or risk or many other factors --
    according to audit methodology, with full reporting across the entire
    universe.
--  Allows users to define, plan, execute and report on audits, cross-
    business: Allows users to track and manage audits, audit phases, workpapers
    and auditor allocations while automating operations.
--  Provides independent assurance to the business as an integrated part
    of overall ERM efforts:  Enables users to opine on management's ERM efforts
    independently and control access to confidential audits, fields and audit-
    only views.
--  Offers a single platform built on a modern, web based interface:
    Supports best of breed capability to manage workpapers online and/or
    offline as needs dictate. It also integrates fully with the OpenPages
    Governance Platform and product suite.
    

"Integrated audit management is more critical today than ever before," commented Steve Patterson, Vice President, Internal Audit, DRS Technologies, Inc. "The assessment of risk across departments in modern organizations is a complex undertaking, one for which internal audit is in a unique position to add value as organizations take on the challenge of implementing enterprise risk management."

Additional Links

--  Please visit
    http://www.openpages.com/solutions/internal_audit_management_29.asp for
    more information about OpenPages Audit and to download the OpenPages Audit
    data sheet.
--  To register for the "Practical Approaches to Automating the Audit
    Process in ERM" webinar on November 11, please visit:
    https://openpages.webex.com/openpages/onstage/g.php?t=a&d=572144006
    

About OpenPages

OpenPages is the leading provider of enterprise risk management solutions that optimize business performance. OpenPages empowers the world's largest companies by unifying governance, risk and compliance (GRC) activities across the enterprise and by incorporating risk management into their day-to-day business processes. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in Japan and the United Kingdom, and regional offices throughout North America.

For more information on OpenPages' suite of risk and compliance solutions, please call 781-693-5999 or visit www.openpages.com.

OpenPages is a trademark of OpenPages, Inc. All other trademarks contained herein are the property of their respective owners.

Contact Information

  • Contacts:

    OpenPages
    Sue Roberts
    OpenPages
    781.693.5941
    Email Contact

    North America
    Jessica Sutera
    Lois Paul & Partners
    781.782.5789
    Email Contact

    Europe
    Charlotte Hanson
    Harvard Public Relations
    +44 208 564 6331
    Email Contact