What do you like best?
This is a complete tool that has templates, audit programs, and an overall training program and guide. It is a good starting point for anyone building an internal audit function from the ground-up.
What do you dislike?
Annual fee seems to be very significant for very limited updates to material, changes, or new tools/resources. I would like to see more of that. For example, I know other tools send out a weekly or monthly update email noting the changes to material or tools for users to check out the new content. It would be nice if Thomson Reuters notified you of changes to prove they are adding value each time you pay for your annual subscription.
Recommendations to others considering the product
This is a good starting point for anyone building an internal audit function from the ground-up. This resource has complete audit programs that can be tailored to your needs, printed, or completed and saved online through the tool. There is a really great internal audit manual that is instrumental in determining where to start when developing a new internal audit function for your company. This is comparable to the guidance published by larger organizations in helping to develop the strategy, focus, and procedures for the internal audit function.
What business problems are you solving with the product? What benefits have you realized?
We have not historically had an internal audit function, so this tool is proving to be a great resource library in building this role. The internal audit manual is helpful in guiding the strategy and procedures for this role.