Implementation of Electronic Audit Work Papers Improves Effectiveness and Efficiency
By Steven Pope, Process Improvement & Change Management Intern
May 2, 2014
What was improved, briefly
The implementation of Electronic Work Papers for auditing has improved the efficiency and effectiveness of audits conducted by CDOT’s Audit Division
Background
The old way: As with any organization the importance of transparency and auditing is critical in today’s heavily regulated environment. The CDOT Audit Division was behind the times -- still using paper for their audits, resulting in thousands of pages per audit and a slow and cumbersome process.
When the audits were in their paper form, they were often difficult to share and made collaboration difficult, due to the archaic physical aspect of sharing large volumes of paper.
The Audit Division determined that an electronic program would be the most efficient and effective way by which to complete audits.
How we improved
The CDOT Audit Director recognized this and requested that an electronic system is implemented to improve the conduct and management of audits. A new application -- called TeamMate --was implemented in 2013.
In the old way -- when paper-based audit projects were conducted -- only one auditor was assigned per audit since it was difficult to share audit work papers. The implementation of the new system allows the Audit Division to have multiple auditors work on an audit simultaneously – which allows Audits to be completed much more quickly and efficiently.
This audit management software increases the level of collaboration in the audits and provides a centralized storage location for audit papers. The electronic application also increases transparency because all of the audits are now securely and centrally stored on an electronic database.
Key Benefits
REDUCES COST, IMPROVES EFFICIENCY
The electronic audit working papers application has improved the audit process by reducing the amount of paper per audit, increasing collaboration, and increasing transparency. The Audit Division has saved thousands of pages of paper by switching to an electronic platform, which is not only good for the environment but also saves money as well.
Furthermore, the efficiency of the Audit Division has been increased by an estimated 25% due to this new electronic system The increase in productivity will not only save money, but the audits can now be more transparent because they are centrally stored.