Audit Management Software

The Teachers’ Retirement System of the State of Illinois is seeking a quotation for Audit Management Software to automate audit processes, including electronic workpapers, reporting, issue tracking, risk assessment, data analytics, and a document library. The proposed solution should have features such as electronic workpapers, document library, and data security requirements. The contract period is three years, and the proposer should include implementation costs, software, maintenance, and support per year in their quote. • The solution should have the ability to record information associated with each audit project, sign off capabilities, cross-referencing between documents, version control, and the ability to export and archive completed workpapers. • The document library should provide an indexed and searchable repository for standard audit programs, workpaper templates, policies, and procedures. • The proposer should comply with minimum security compliance standards such as SOC 2 Type II audit report or ISO/IEC 27001 certification. • The evaluation process will consider the best fit and best value for the engagement, with cost being one of the determining factors.