Complete your entire Internal Audit and Compliance process, Digitally & Automated
Tahqiq is a Risk Based Internal Audit System, featuring a comprehensive risk assessment module with grading which has been conceived addressing the requirements of our clientele, accounting for every action with clarity and efficiency, digitally.
Tahqiq is a Risk-Based Internal Auditing System by Millennium, designed to manage a bank’s Internal Control & Compliance System, covering key areas like Internal Audit, Compliance, and Risk Management
Audit Management Module
Includes functionalities like risk-based audit planning, branch risk gradation, online audit operation and monitoring, concurrent audit, and single file management. This module would handle the entire internal audit lifecycle.
Integration Module
Manages integration with other subsystems like HRMS and CBS, ensuring that the system can gather necessary data and interact with other departments.
Reporting Module
This could encompass the multifarious reporting capabilities, such as generating audit reports, executive summaries, and other essential documents for stakeholders.
Authentication & Security Module
Includes multilayer authentication and the mail notification system, ensuring secure access and communication within the system.
Dashboard & Analytics Module
Incorporates the executive dashboards and dynamic search engine, providing users with data visualization and advanced search functionalities.
Calendar Management Module
Handles global and branch-specific calendar setups, ensuring that audit schedules align with bank and branch-specific working days.
Modules of Tahqiq
Modules
Module Title
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Tahqiq Salient Features
01
Audit Workflow Automation
Automated workflows that enhance the speed and accuracy of audit operations, reducing manual effort.
02
Comprehensive Reporting
Provides comprehensive reporting capabilities that allow auditors to generate detailed insights and analysis.
03
Cost Reduction
Reduces overall departmental expenses by streamlining the audit processes and optimizing resource usage.
04
Risk Grading
Features advanced risk grading systems to effectively assess and categorize risks based on severity and impact.
05
Statistical Decision Dashboard
Offers decision-makers a powerful dashboard with statistical data to support informed decision-making processes.
06
Audit Coverage Automation
Enhances audit coverage through automation, improving time management and overall operational efficiency.
Important And Handy Reports
This is the detailed report of auditor's observations along with its related officials, severity of the observations, recommendations and branch feedback with its mitigation status.
This is the Board Audit Committee Repo"
generated to be placed the aoard with the
contents of Major Irregularities (VSI„ DVSL
& SLI On General Banking,lnvestment
Foreign Exchange Foreign Trade Portfolio
detected by the Auditors Wilh its updated
Branch Compliances.
This is the summary of The Main Audit Report
Contents of this report are the Business Position of the branch consisting of yearly comparison of Target & Achievement, Deposit Mix, Investment Position, Import, Export, Remittance, etc.
In case of auditor’s disagreement to
the observations resolved by
compliance users are reported as
False Compliance Statement.
This is the branch risk gradation report processing business risk data from CBS, control risk data-based on audit observation and core risk element data defined by Central Bank.
Customized Report
The dynamic search engine is an integral part of the system to explore any sort of reports and searching observations in a 360-degree view.
Automatic Risk Grading
Through years of hard work in research and development with banking software, Tahqiq brings in the market a game changing product for the banking industry which help banks to perform automatic Risk Grading for the branches, eventually bank as a whole, based on its business performance from CBS data and audit observation on the exposure to the Central Bank defined Core Risk Areas.
Branch 3 Risk Grading
- Business Risk Score Derived From Data Fetched From CBS
- Control Risk Based On Audit Observation
- Control Risk Central Bank Defined Core Risk Areas