Interactive Risk Management

The Interactive Risk Management Application is PwC's GRC platform that centralizes risk management and compliance activities. It automates control execution, provides real-time compliance dashboards, streamlines evidence collection, and generates real-time stakeholder-ready dashboards. It assists you with reducing manual effort while helping you improving control quality and reduce risk.

The Interactive Risk Management Application transforms control execution from a manual, error-prone process into an automated, standardized workflow. The platform automatically generates testing schedules based on control frequencies, sends targeted reminders to control owners before due dates, provides step-by-step testing instructions and templates to ensure consistency, guides users through evidence collection with specific requirements, routes completed tests through proper approval workflows, and tracks all activities with complete audit trails. This eliminates the typical spreadsheet-based tracking, reduces missed controls, and ensures "first-time-right" execution through standardized procedures.

The Interactive Risk Management Application is specifically designed to streamline SOX compliance by automating the entire SOX testing cycle. It manages your SOX control matrix, automates quarterly and annual testing schedules, ensures proper segregation of duties in testing and review processes, maintains detailed audit trails for SOX documentation, and generates a real time overview of the efficiency of your controls. Any findings can be carefully mitigated through the platform as well. The platform's standardized workflows help ensure consistent SOX testing and reduces the risk of control gaps. 

The Interactive Risk Management Application centralizes the complete audit findings lifecycle from identification to closure. It automatically creates remediation workflows, assigns tasks to responsible parties, tracks progress against deadlines, sends escalation reminders, and maintains audit-ready documentation. The system consolidates findings from multiple sources (internal, external, regulatory) into a unified view.

The Interactive Risk Management Application supports multiple regulatory frameworks simultaneously including COSO, COBIT, ISO 27001, GDPR, ESG, TAX, and industry-specific regulations and compliance requirements. Organizations can map controls across different frameworks and demonstrate how single controls satisfy multiple regulatory requirements, reducing duplication and compliance costs.

Yes, the Interactive Risk Management Application supports auditor access through secure, read-only guest accounts or full collaborative access depending on your preferences. Auditors can view control documentation, testing evidence, and audit trails in real-time, eliminating the need for manual evidence packages. Access can also be configured to a minimum or fully denied.

The Interactive Risk Management Application provides flexible access controls for contractors and external parties through user accounts with customizable permissions and access. Contractors can be granted specific access to only the controls or business areas they're responsible for. The system maintains full audit trails of contractor activities and can integrate with your existing identity management systems to streamline contractor onboarding and offboarding processes. 

Yes, the Interactive Risk Management Application fully supports SSO integration. This allows users to access IRMA using their existing corporate credentials without additional passwords. SSO integration also enables automatic user provisioning/de-provisioning, role mapping based on Active Directory groups, and seamless access management for both employees and approved contractors through your existing identity management workflows.

The Interactive Risk Management Application dashboard provides live visibility into control completion rates, overdue items, exception trends, and compliance status. Users can drill down from high-level metrics to individual control details and access trending analysis to identify patterns and potential issues before they become problems.