Central Bank of Oman to deploy MetricStream soln

BANGALORE, INDIA: Bangalore-based MetricStream, an enterprise-wide governance, risk, compliance (GRC) and quality management solutions provider, announced that Central Bank of Oman (CBO) would deploy MetricStream's solution to automate its business processes related to audits management.

Shankar Bhaskaran, senior director, MetricStream, said: “The Central Bank of Oman will use MetricStream solution to manage complete audit lifecycle including risk-based audit planning and scheduling, development of standard audit plans and checklists, field data collection, development of audit reports and recommendations, review of audit recommendations by auditees and management and implementation of audit recommendations and remediation."

Aysha Z N Al-Maully, chief audit executive, Central Bank of Oman, said: “We selected MetricStream solution for its ability to provide powerful workflows and key metrics around audits function and most importantly it will help us to automate CBO’s risk-based audit along with risk assessment methodologies. This in turn will facilitate us to enhance the effectiveness and efficiency of CBO’s existing risk-based audit infrastructure. This solution will also help build a comprehensive compliance framework for the Central Bank of Oman by providing the capability to integrate several regulatory requirements and risk management initiatives.”