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BankMuscat Embraces TeamMate Audit Management
System
Muscat,
29 January 2008: BankMuscat, the nation’s
premier bank announced that the Bank’s audit
department has implemented TeamMate audit
management system. This award winning system has
revolutionized the entire audit process and
started generating significant benefits to the
audit department resulting from increased
efficiency and productivity.
Announcing the Bank’s launch of TeamMate, Tom
Totton Deputy General Manager, Internal Audit,
BankMuscat said :
“This audit management application has been
procured from PriceWaterhouseCoopers and has
been customized for the internal requirements of
the Bank. BankMuscat is the first bank in Oman
to roll out this software, which is consistent
with the bank’s challenging vision. By choosing
TeamMate, we intend to maintain our position as
a leading edge audit team. TeamMate will
dramatically reduce time spent on those elements
of an audit that provide lesser value. It
empowers users at all levels providing them with
substantial value added services. The software
has been used by more than 35,000 auditors in
1,000 organizations across the globe and we feel
proud to become part of this group.”
Susan Daniel from PriceWaterhouseCooper who was
present at the launch said “We are delighted to
be associated with this initiative and are
confident that BankMuscat will continue to
realize significant value from their
investment”.
In a recent announcement the Central Bank of
Oman has also directed all the banks in the
Sultanate to explore using formal audit
management software.
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