Review & Audit

The OR&A Solution also incorporates a unique additional tool that is used to conduct and manage OR&A Reviews (ORR) and/or Pre-Start-Up Audits (PSUA).

Whilst the functionality of the Review/Audit tool imposes a robust and rigorous process, it also provides a range of functions, displays and reports which significantly improve the efficiency of a review or audit, yet reduce the effort (time, manpower and cost) required.

For either type of review or audit, the system functionality is the same, but the groups, subjects and questions are different. The tool can be used for any type of review or audit by creating an appropriate set of questions

Terms of Reference (ToR)
Typically, a review or audit will be set up to review or audit a 'representative sample' of data from a project against a set of written terms and conditions in order to arrive at an outcome which is expressed as an 'opinion'.

Unfortunately, because this process can be somewhat variable in quality and stringency, particularly in the subject data, this leads to inconsistency in that opinion.

The OR&A Review & Audit tool formalises this by allowing the Audit Leader to set these parameters from the outset, however, to maintain the necessary robustness, these cannot be modified after they are set and saved.

The initial Review/Audit setup screen is shown in the adjacent illustration.

Risk Assessment Matrix (RAM)
Most companies use a standard Risk Assessment Matrix (RAM) to determine the risk posed by a particular issue or finding, quantified in terms of Likelihood, Severity and Consequences. Although these matrices are usually set within the business processes of a particular company, they do vary across the industry.

To allow any company to use the OR&A Review & Audit tool, the Audit Leader can build a bespoke RAM at the outset of a review or audit which matches that used by the specific 'auditee' company or to prepare a tailored or bespoke version for a particular project. The RAM setup save notification screen is shown in the adjacent illustration.

 

 

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