LARS (Laser Audit Reporting System) is an internal audit management solution that offers audit planning, audit scheduling, audit repositories, automated reminders and task escalations within a suite.
LARS features audit planning, which allows users to track planned, unplanned, ongoing, completed and dropped audits cross multiple areas. The product also allows users to assign tasks, start dates and due dates to specific auditors. Users can track the status of ongoing audits by location in a customized dashboard.
Users can also create documentation and work papers outlining audit activities. Auditors can update findings regarding controls, policies and procedures. The product also offers document management, which allows users to share multiple types of files, such as Microsoft Word, Excel, PowerPoint, Outlook Message, PDF and GIF files.
Support is available via phone and email.
Dilip from Tata Motors Ltd
Employees number: 10,000+ employees
It is possible to create Audit working papers repository for future reference.
It is very useful for creating working papers and maintaining audit trail of future reference. Review is possible through internet facility.
Draft audit is too lengthily and there fore it is not possible to connect with process owners. Open audit recommendations ARS.
Ai from Air Niugini Ltd
it has standardize reporting template with audit programmes and significantly improved our time management of our audit projects.
Easy to understand and use and improve in terms of reporting though, there were few hicupps when we started using the system back in 2015. Since then up to now the system has given us an insight into what we can archieve and most notable part of it was keeping our auditees on their toes to appropriately address their observations addressed to them.
The exporting of reports from LARS to word format where sometimes the letters and the formats are different and not in line, however we all have improved in this area.
Rajesh from Muscat Overseas Group
Employees number: 1,001-5,000 employees
A lot of benefits we got from this software
1) Saving in time and effort
2) Helps speedier implementation of audit recommendations
3) Due 2 above, it helps increasing operational efficiency in the entire group
I like the following benefits the most:
1) Saving in time and effort: Earlier we were spending lot of time in compiling observations in Excel for following-up implementation. Now it is readily available in LARS
2) Because of LARS now there is a lot more auditees have been involved, resulting into speedier action plan updation and finally resulting into increase in operational efficiency by implementing audit recommendations
3) Auto follow-up of implementation of audit observations feature of LARS is very good
4) Excellent support from LARS team
The way we follow-up the implementation of audit observations is different than what has been generally followed in Indian companies, because of this there is lot of customization is required. However, due to very good support customization is happening as we want. Except some teething problems and some more customization is yet to be done, we are satisfied with the product.
SATISH from Kirloskar Oil Engines Ltd.
Ease of use for auditors and auditors in terms of recording audit observations, obtaining responses and reporting results. Eliminates the need for emails and usage of 'Word' or 'Excel'. Compatible to all types of organisations. Acts a repository where information can be easily retrievable.
When exported, formatting can be better. This consumes time. Should have facility to directly export to ppt.
Rakesh from TITAN COMPANY LIMITED
Employees number: 10,000+ employees
A total solution for audit requirements
Time saving and easy to use . We have more than 500 users using Lars every day .
Easy to understand and use . We are able to generate 3000 reports in a year and consolidate data in less time . Excellent support and flexible in customisation.
We like it all . Future we have to explore the possibility of offline mobile applications and GPS tracker and use of AI
pervin from Godrej & Boyce Mfg Co Ltd.
It is amenable to change and the response on any request is very quick. Other functions in our organisation liked the follow up mechanism so much that they wished to use it for their requirements. The reports generated are also changed to suit our requirements as and when there is a new requirement.
Do not have any thing which we do not like about the software. While issuing the reports if we have a multiple selection it could be a good feature instead of issuing one report at a time.
Ramnath from Shoppers Stop Ltd
Our Internal Audit team usually faced challenges in collating information culled out of Internal Audit reports received in large numbers from across the chain, for presenting to the stakeholders; till the time we installed LASER Internal Audit reporting systems (LARS) two years ago.
LARS today provides us features to help analyze & pinpoint common process glitches across the chain as observed by our IA teams across the country. It also gave us the ability to remotely monitor Internal Audit project progress and closure. Moreover, its provides an interface online with the Auditee, to seek their replies for all exceptions raised by the Internal Auditors.
Their proactive approach to hunt for improvements in the existing modules for new upgrades in the existing software is a great value add.
We also had the privilege to work with the LASER's development team to develop the IFCS module for the Internal Audit profession in line with the requirements of the Companies Act 2013, named Laser Internal Control Manager (LICM); this module has helped us in uploading our SSL Group's Internal Controls documented and seek control self-assessment (CSA) from Business Process Owners for the same, backed by requisite evidence as well;
Nothing bad about this software, It is the simplest software to implement for our size of organizations have more than 300 stores across INDIA.