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Due Diligence For Audits And Surveys

22 April 2021

Scheduling and completing audits and surveys can be a lengthy and manual process, often built around Excel, which is susceptible to human error and lacks control and security.

Information is often held in several different systems making this exercise time consuming and inefficient.

Due Diligence is a core module within EQ Riskfactor. The technology enables lenders to streamline and enhance their existing audit and survey processes. It also increases the value and suitability of desktop audits, which are of particular importance in the current and post COVID-19 landscape. With that said, Due Diligence is equally suited to on-site visits.

Complete Work In Real Time

The Due Diligence module is installed on each auditor or surveyor’s laptop. This allows work to be completed in real-time should internet access not be available during on-site visits.

Data Extraction For Faster Decisions

EQ Riskfactor is at the forefront of new technology innovation. Our expert developers are pioneering the use of extracted data to reduce the cycle time from first meeting to onboarding and ongoing monitoring and control of facilities. Utilising this technology along with our Due Diligence module means the audit and survey process is significantly improved by capturing and presenting data in a clear and simple format, adding value to both the auditor and the client.

A Risk Based Approach

Due Diligence enables Lenders to adopt a risk-based approach when selecting clients for audit. The Due Diligence template focuses on higher risk transactions in the testing, and highlights any areas of concern to the lender, mitigating risk.

Find Out More About EQ Riskfactor's Due Diligence Module

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