At AuditMatrix our mission is to provide outstanding service to stakeholders for better protection of their assets through cost-effective risk reduction and superior internal audit solutions. AuditMatrix Services include:

Let the AuditMatrix® patent-pending process start benefiting your organization today through a no-obligation consultation!

Get started today by requesting an appointment for a no obligation consultation on how AuditMatrix can benefit your organization by calling us at (602) 325-1257 or for more information email us at Contact Us.

The AuditMatrix patent-pending integrated methodology and algorithm is proven to contribute to profits and improve resource utilization.¹

Considering the complexity with thousands of transactions possible, organizations are exposed to risk of loss or fraud. The AuditMatrix platform was developed to help manage those risks with benefits that include:

Get started today by requesting an appointment for a no obligation consultation on how AuditMatrix can benefit your organization by calling us at (602) 325-1257 or for more information email us at Contact Us.

What is AuditMatrix?

AuditMatrix is both a patent-pending methodology and a web-based software-as-a-service (SaaS) for performing internal audits and compliance reviews by small audit departments. AuditMatrix offers integration and standardization of administration, performance, reporting and issue tracking for the internal audit or compliance function in single or multi-unit organizations with a small internal audit or compliance staff. The solution is affordable and budget friendly to small audit or compliance departments with limited resources.

What makes AuditMatrix unique or different from other internal audit or compliance software and services?

AuditMatrix was developed by a seasoned audit professional with many years of extensive experience in operations, finance, accounting, internal audit and compliance. The platform is designed specifically for single or multi-unit organizations with small audit or compliance staff of one to five auditors. AuditMatrix helps by saving time through standardizing evaluations, reducing audit administration and overhead and is an affordable solution for a small audit or compliance department.

Is my organization too small to benefit from AuditMatrix?

Single or multi-unit organizations of any size that desire an efficient internal audit or compliance process can benefit from the AuditMatrix solution. More importantly, many internal audit or compliance departments are small, ranging in size from one to five auditors with limited resources. The platform automatically scales up or down to fit your needs when audit or compliance units (assets) are acquired or divested or organizational realignments occur. And the service scales to the size of your internal audit or compliance department. The AuditMatrix solution can help any government, private or public company with a small internal audit or compliance staff to more efficiently and economically satisfy their internal audit and compliance needs.

We want to implement an internal audit or compliance process, can you help?

We are the perfect solution for start-up, early-stage single or multi-unit organizations, or organizations implementing a new internal audit or compliance function. Our full solution includes performing your audits and has optional services like foundational policy and procedure library including commonly used forms and processes (cash control, accounts receivable administration, etc), SOX compliance review, self-assessments and performance audit capabilities. Our certified auditors perform the audit engagements based on the unique requirements of your organization. With our full AuditMatrix program we offer a guarantee¹ that our platform will provide real dollar benefits to your organization.

Can the web-based software-as-a-service (Saas) be purchased alone?

Yes, we offer the AuditMatrix platform and methodology as a web-based service for those organizations that desire to administer their own internal audit function. You may initially set-up and customize AuditMatrix to your organization's requirements or for optimum benefits we can help with your implementation. We work closely with you to detail and map out the most beneficial configuration for your internal audit or compliance needs. Our goal is for your organization to receive the highest level of service and a successful implementation that reduces audit administration at an affordable price. After configuration and implementation, the AuditMatrix platform can be fully administered by your internal audit or compliance department.

Is the software available for purchased to install on our premises?

We do not currently offer the AuditMatrix platform and methodology to deploy locally onsite. By being a solely software-as-a-service (Saas) we can continously offer seamless updates and features at no additional cost to our clients. At the same time this approach allows us to offer the best pricing available to small audit and compliance departments.

Are there requirements for the internal audit or compliance staff for AuditMatrix?

If you plan to administer AuditMatrix yourself, we strongly recommend that at least one member of the internal audit staff be a current and practicing Certified Internal Auditor (CIA), Certified in Risk Management Assurance (CRMA), Certified Public Accountant (CPA) or Certified Fraud Examiner (CFE) with appropriate background and experience to act as the administrator of AuditMatrix. Although internal auditors should have sufficient skills, knowledge and qualifications to perform internal audits or compliance reviews, no special technical skills or knowledge are required to interact with the intuitive AuditMatrix system. We "make internal audits easy to administer and perform," by significantly reducing the audit or compliance administration normally required. If we administer AuditMatrix and perform internal audits or compliance reviews for your organization, all work is supervised by both CIA's and CPA's.

How can we get more information?

Contact us today by requesting an appointment for a no obligation consultation and demo of how AuditMatrix can benefit your organization by calling us at (602) 325-1257 or for more information email us at Contact Us

During my many years of tenure in internal auditing, I knew there had to be a better, more efficient way to conduct internal audits that demonstrated clear benefits in real dollars for an organization. I realized that the traditional linear internal audit process did not optimally identify or mitigate risks and losses, and in some cases even allowed conditions that could increase the risk of fraud, misappropriation or misuse of an organization’s assets. Thus, after countless hours of observation, research, development and testing my theories, I invented AuditMatrix^® to satisfy this need.

Through my examination of controls and the typical internal audit process, I realized that internal audits that primarily use statistical audit sampling techniques were inadequate. It lacked the ability to discover significant accounting issues or conditions that required mediation. These errors or faulty accounting can be buried below the surface and create a condition that appears to be "in balance," actually creating a false sense of security that the organization's accounting is accurate. Most internal audits and statistical audit sampling methods are unlikely to identify these conditions through the course of a typical internal audit. As a result, organizations with weak detection or control monitoring processes at a minimum can incur significant revenue adjustments and write-offs, inaccurate financial data, or in the worst case, fraud.

Another significant reason for losses or fraud: an insufficient emphasis on the importance of operational controls. I discovered two basic reasons for this: 1. Operational controls are not always given the same level of status as accounting and finance related controls or 2. management generally lacks an understanding of the role operational controls play in coupling to the finance process. Even with great diligence in the financial process, weak or missing operational controls or, worse, poorly defined operational controls nearly always lead to re-statements or significant accounting adjustments due to faulty accounting, fraud or misappropriations.

Through my work at every level of several organizations, I identified the third critical factor in the effectiveness of business control: as management ethical behaviour and the general attitude toward the internal audit function and controls. Organizations that make it known at all levels that the internal audit function is valued by executive management and to be taken seriously has a big impact on the outcome. Organizations that value their internal audit functions and expect their staff to embrace the process achieve higher levels of control and significant efficiences over those that do not. Management ethical behaviour demonstrated by example and the top level endorsement by management of the internal audit function is paramount to good control, compliance and reductions in risks of loss and leads to better fraud prevention efforts.

Based on my examinations, I then pioneered a forensic internal audit model that successfully captured ledger and account balancing errors and breaks in the information flow-through of the business intelligence and financial system. I subsequently developed an enhanced model that tightly integrates to the operational and financial control framework and the ability to continuously audit the process. The intial benefit of my effort was a direct $1.5-million dollar annualized savings¹ for one organization and significant indirect cost reductions. The efforts continued to produce year-over-year improvements in the organization's bottom-line, thus vetting my model.

Thus, I developed AuditMatrix^® based on my efforts to fulfill the needs of organizations by offering a valuable end-to-end solution that reduces risks and better integrates control and the internal audit process.

Get started today by requesting an appointment with Billy for a no-obligation consultation on how AuditMatrix can benefit your organization by calling us at (602) 325-1257 or for more information email us at Contact Us.