Planning

VTC Offshore can plan and perform risk based verification and monitoring plans, tailor made for your business and assets. Our comprehensive database, knowledge and experience enables us to identify trends. Each level in the project structure can be fully risk assessed using a set of user defined, weighted, criteria which can include, for example, any risks from the Risk Register and Historic Audit/ Verification/ Inspection Results.

Audit

• Attach and embed any electronic evidence to support the work you have done

• Full hyperlinking between the Auditors notes, attached supporting evidence, reviewer notes etc - this includes hyperlinking to attached supporting evidence and to any specific locations in attached Word documents, Excel spreadsheets etc

• Ability to allocate individual tests to individual Auditors

• Full review and approval processes with several optional methodologies available including an unlimited number of levels of review at all levels of the working papers

• Record work done / findings / issues / recommendations throughout

Risk

The core functionality provided by the Risk Register and Assessment capability includes the ability to:

• Create Risks with numerous definable lists, dates and free text fields

• Approve Risks based on definable User privileges

• Creation and Ongoing management of multiple risk registers

• Assess Risks based on definable methodologies including impact * likelihood (using numbers or descriptors)

• Use multiple impact Categories if required

• Request an on-line assessment by someone elsewhere in the organization

• Directly link Risks to any elements of the Audit Universe

• See any Risk Assessment in the Audit Universe at the Annual Planning stage

• Conduct comprehensive reporting with graphical and tabular interfaces

Management

PAR-Management™ has a fully integrated finding tracking system. For example, when a finding is created within the Electronic Working Papers it is, at the end of the audit, automatically transferred into the Action / Recommendation Tracking system. This eliminates any need for copy / pasting etc.

• All findings including their status will always be available online.

• Findings reports, actions and risks are assigned to responsible party, which can update the status online.

• Findings can also have dedicated Alerts to trigger an email to a responsible party.

• Customers can generate and print reports.

• Tailor made reports are also available