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Oct 27 • 11:04

How to Prepare for Government Audits with Mock AuditsNecessary Enterprise Documentation: EOPs

Government audits can be daunting. In fact, 44% of organizations say their top compliance management challenges are handling compliance assessments, undergoing control testing, and implementing policy and process updates (MetricStream State of Compliance Survey Report 2021). That’s why preparing for government audits is a vital part of your organization’s compliance program. If your business is not compliant, there could be serious consequences, including fines, lawsuits, or even a dissolution. Not preparing properly for your audit is a risk you can’t afford to take. 

A mock audit allows you to walk through the process that you will follow in an actual audit, helping your company prepare by going through practice questions that accurately reflect what will be asked. 

Benefits of a mock audit include the following:  

  • The mock audit allows your company to find and correct weaknesses and problems before the government audit.  
  • The mock audit process helps prepare personnel for the actual audit so the official visit runs smoothly. This includes identifying where to find documentation to answer various probable lines of questioning. As such, your personnel’s efficiency and confidence increase.   
  • Personnel who are responsible for responding to the actual regulators will gain a greater understanding of the regulatory requirements and your company’s processes, ensuring these requirements are followed. This will help not just in passing the audit; it will also aid in improving compliance throughout your organization on an ongoing b

The mock audit is conducted in a manner that is as realistic as possible. This means that participants remain “in character” as if it were a real audit. To fully benefit from the mock audit, the mock auditors must make the whole program as tension-driven as possible so that the participants know how to answer in every worst-case scenario. The more participants are trained in stressful situations, the better the outcome will be during the actual audit.   

At the end of the mock audit, participants engage in a review process. This includes comments by the mock inspector that address what was done correctly and where improvements need to be made. It also incorporates feedback from participants that helps in evaluating the mock audit’s effectiveness.  

The mock audit is also a timely opportunity to review and upgrade your current compliance program. Adding an effective Knowledge Management (KM) portal or refining your current KM system can help you level up your culture of compliance. It ensures that your employees stay compliant by giving them 24/7 access to real-time knowledge and changes. 

SPARK THOUGHT has expertise in assisting major companies with audits by regulatory agencies. We help through several related services including Regulatory Compliance services to keep your entire organization compliant, Technical Documentation services to create easily understood and more thorough enterprise compliance documentation and Learning Solutions to streamline and differentiate your compliance training process. We listen. We collaborate and innovate. We deliver customized Knowledge Management Solutions. 

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