Petroleum Africa
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Thursday, July 24, 2014
Tanzania’s state-run oil and gas firm TPDC went live with MetricStream’s solution for risk-based audit management. Built on an integrated GRC platform, the solution consolidates internal audit activities in a single framework to drive greater transparency and efficiency, while also streamlining end-to-end audit workflows, and strengthening visibility into risks.
“At TPDC, we look to integrate risk management into our day-to-day activities at every organizational level, while also ensuring proper oversight of risks,” said Charles Nyangi, Acting Director of Internal Audit at TPDC. “The MetricStream solution scales across the enterprise, and helps us improve the efficiency of our audit program, while facilitating greater information-sharing and coordination across these activities, which comprise internal and joint ventures (external) audits.”
To balance the potential opportunities with the associated risks, TPDC is strengthening its internal audit processes, supported by the MetricStream solution. The solution provides rich, end-to-end functionalities for simplifying, accelerating, and enhancing the entire audit lifecycle. It helps consolidate risks from across the enterprise, and map them to their corresponding controls so that the organization can quickly identify high-risk areas, and prioritize audit plans and resources accordingly.
“We are delighted to help TPDC simplify and strengthen its audit capabilities,” said Shankar Bhaskaran, VP & GM of International Business Operations at MetricStream. “MetricStream has a strong presence in the Middle East, particularly among major oil and gas companies, and is now actively involved in the rapidly growing African market.”
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