Each company undergoes regular external or internal audits to make sure that all processes are proceeding correctly and to understand what needs to be changed or implemented for greater efficiency. Another reason for auditing activity is to verify that the documents and permits comply with the actual conditions of production in order not only to extend the licenses for the entity but also to improve working conditions for employees and increase their productivity. This process is accompanied by the preparation of many documents, property declarations, and other accounting documents that require proper storage. That is why you should start searching and comparing the portals of the board of directors, as this platform is the most versatile, the most reliable and the most popular one at the moment. But let’s go into more detail.
Board of Directors portal software for monitoring audit activities – board-portal.org
It does not matter whether it is an external or internal audit; you can track its review without, of course, interfering with the process. From this point of view, both auditors and you can use the same platform for different purposes: you are for monitoring and commenting, they are for creating documentation and the whole database. Also, you can exchange documents and send them the required reports using the cloud service of the board of directors.
Discuss the process and what to do next
Auditing a company is always a complicated process, the result of which is often accompanied by a redesign of the company’s business strategy, the reorganization of structures and departments. Along with the boardroom software, you can not only get the most up-to-date updates from the audit team but also conduct online board meetings, which will save time and respond quickly to audit results. In this way, you have the opportunity to predict and plan the future activities of the company and to represent the interests of the company for consideration by management.
Create an audit archive
This is an essential option if you are looking to attract investors who are often interested in the results of previous years’ audits. By keeping your archive online, you can easily share files with interested parties from any country in seconds. This is precisely where the speed of decision-making and action can dramatically change the future of your company and its position in the market. Besides, you will forget about the need for any paper, size cabinets in the office, or even archives. And if you need to arrange a relocation, then you can be sure that no document will be lost along the way. This is a win-win option.
A virtual data room is a multifunctional software that is ideally suited to the management of the company undergoing the audit process. It will provide quick communication with the audit team as well as quick contact with the executives and preparation and storage of the entire document base. And most importantly, it is the safest option available on the market right now.