In particular, qualitative items of information regarding audit objects are required in addition to quantitative data derived from IT-analysis tools in order to conduct focused audit-knowledge management. This task necessitates a structured audit-relationship-management (ARM) approach within the framework of a risk-oriented cycle and a continually structured or template-based meeting log. Structured institutionalization enables a standardized comparison of audit objects for further risk-oriented examination and resource planning. At the same time, the auditor’s knowledge is based particularly upon comprehensive information management. In order to process these accumulated items of information – partially from various discussions – into knowledge, much time and storage capacity often is required. In this effort, an institutionalized and interlinked process with regard to information sources and filing locations is required for the implementation of an adequate audit-knowledge management process. The option of a rolling-audit plan is generated as a by-product from the continuous performance of ARM.
From a strategic standpoint, ARC supports its clients on a company-tailored basis in developing their audit operations into a “learning organization.” This provides substantial assistance for the preparation and performance of the actual audit. At the same time, ARC demonstrates to clients how to achieve enhanced audit effectiveness (impact) and efficiency (economy), strengthened communications across team boundaries as well as improved (upgraded) quality assurance regarding audit-internal processes.