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Pentana

Pentana is a complete solution for all your governance, risk and assurance needs.
Integrated risk management and internal controls modules make it equally suitable for use by risk departments and for compliance with Sarbanes-Oxley reporting.
Web based module allow direct access to the application via web with Internet Explorer or Firefox browsers, with simplified interfaces for business users managing questionnaires & actions or involved in risk assessment.

Pentana is available in English, Arabic, Italian, Greek, Turkish, Thai, French, Portuguese, Spanish.

Pentana is an integrated suite of software designed to manage a wide range of risk, audit, compliance and other corporate governance procedures.
PAWS can help you to:

• Comply with various international auditing requirements, including Sarbanes-Oxley, Turnbull, Basel II and COSO.
• Improve control over your business and focus resources on the risks and issues that most concern you.
• Gain better and more timely management information on which to base your decisions, through our extensive analysis and reporting features.
• Perform more efficient and effective assignments, such as audits or risk reviews.
• Involve your business units more actively in Control Risk Self-Assessment and in the timely completion of agreed actions.
• Replace your old, often unreliable, spreadsheet or PC-database systems with a system that is robust, flexible, accessible and easily scaleable.

PAWS comprises the following product modules:

• PAWS Main Module – Allows Risk Managers and Assurance providers to identify and assess risks, undertake risk-based reviews and generate findings, actions, and the appropriate reports. Reviewers working off-site can copy reviews onto their laptops or work directly over the web.
• Web Action Module – for web-based action tracking and questionnaires.
• Web Risk Module – for web-based risks and controls management including Control Risk Self-Assessment across the entire business.

There are also optional links with Retain Resource Planning and Time Management modules for comprehensive staff and resource management.

PAWS runs on a SQL Server database. The database can be replicated for multi-site use and a check-out feature allows individual assignments to be updated collaboratively while disconnected from the network.
Work papers can be attached at many levels in the software.
Small installations can use the licence-free MSDE desktop edition of SQL Server.

Terminology and concepts

This section lists some of the key concepts and the terminology that we use throughout this document and in the default software installation.
You can fully customise the terminology displayed in the software to match the terms with which you are familiar.

Universe

This describes the complete population of entities and audits that are present on your system.

Entities

This can include physical entities such as ‘head office’ or can represent processes such as ‘revenue cycle’. You can complete a Risks & Controls Register against each entity and also perform ‘audits’ of an entity.

Audits

An 'audit' is any type of assignment in which work is performed in respect of an entity. Audits may be of different types. Each entity can have an unlimited number of audits. You can only perform ‘tests’ and raise ‘actions/recommendations’ within the context of an audit.

Global risk assessment

This term describes the systematic assessment of relative risk across entities in your universe, typically for the purpose of prioritising and scheduling audits.

Risks & Controls Register

This is an integrated module in which you can define and assess specific risks and their mitigating controls and, within the context of an audit, perform tests and document any resulting actions. You can maintain a Risks & Controls Register for each entity in your universe.

Objectives, Risks and Controls

These are the three primary levels of our Risks & Controls Register. An objective can have any number of risks attached to it, and any number of controls can help to mitigate each risk.

Accounts and Assertions

These are concepts when managing controls over financial reporting, especially to assist auditors in meeting their attestation objectives in accordance with the PCAOB standards (see www.pcaobus.org/pcaob_standards.asp). Accounts are elements of your financial reports (e.g. ‘Accounts receivable’) and Assertions help you assess whether the accounts are correctly stated (e.g. ‘Existence or Occurrence’).

Areas

Within the context of an audit, tests are grouped by ‘area’.

Tests

A ‘test’ is any item of work that is carried out within the context of an audit. Tests are typically designed to address risks and controls, but they may also represent audit admin. tasks such as ‘Perform satisfaction survey’.

Points Arising

This term describes the various matters that may arise during the course of an audit. This typically includes ‘findings’ (i.e. the points that generate an ‘action’ – see below), ‘review points’, ‘points forward’ or any other classification that applies in your organisation.

Actions

This describes a typical life cycle of ‘finding à recommendation à response à agreed action’ with which Internal Audit departments are often familiar within the context of an audit. This model can also be applied equally to other contexts, such as Risk Reviews, etc.

Audit Report

This describes the formal output of an audit, being some sort of a report to the management of the ‘client’.

Contacts

Contacts are people who ‘belong’ to an entity and who may typically perform control risk self-assessments and/or be responsible for addressing the agreed actions that arise from an audit. You can allow entity contacts to have ‘business user’ (Web) access to the system.

Business users

Business users are entity contacts who have been set up as restricted users within the system. Business users can typically only access the optional PAWS Action Satellite and PAWS Risk Satellite modules.

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