Effective audit management requires strict tracking of deliverables and secure storage of engagement files. FloQast Operational Audits introduce the Milestones, Documents and Reports tabs at the program level, completely eliminating the need for external Excel trackers and separate shared folders for permanent files.
Tracking Audit Tasks with Milestones
The Milestones tab replaces internal task trackers by allowing you to assign owners, set due dates, and monitor completion statuses directly in FloQast.
Open your Operational Audit program and click the Milestones tab. From here, you have two options for building your milestones:
- Option 1 (Automated): Click the Edit with AI button to automatically build milestones using data from your Overview and the broader Compliance suite (risks, testing, issues).
- Option 2 (Manual): Click + Add Task within a Task Group to create a new milestone for administrative planning items (e.g., kickoff memos, walkthrough scheduling, or ticketing).
Managing Tasks & Tracking Progress
Effectively managing your audit requires setting clear milestones, defining responsibilities, and closely monitoring your team's progress. You can quickly build out your task list using FloQast's AI automation or by manually creating milestone tables, allowing you to track every stage of the audit seamlessly.
- Edit Task Details: Outline the specifics for each task by filling in the fields for the title, description, status, due date, assignees, role, a sign-off toggle, and a "Document required" indicator.
- Assign & Schedule: Assign team members to these tasks and set firm deadlines to seamlessly monitor completion status as your audit progresses.
- Track Progress: The visual progress bar updates as you work. Overdue tasks are clearly marked as Late (red), and the Complete Milestone button will only activate once all nested tasks within that group are finished.
Storing Files in Documents
The Documents tab serves as a centralized repository for your entire audit program, functioning much like a permanent file folder. This is the ideal location for high-level files that don't belong to a specific narrative or control, such as engagement letters, organizational charts, or overarching workpapers.
- Navigate to the Documents tab within your audit program.
- Click the green + Upload button (or drag and drop) to store program-level files directly.
Generating Audit Summaries with Reports
The Reports tab is designed to generate audit reports with AI, pulling from the Overview, Milestones, and data across the Compliance suite (risks, testing, issues). Reports export to PDF or Word and can be refined via chat before finalizing.
- Navigate to the Reports tab within your audit program.
- Select Edit with AI
- Use the AI agent to generate final reports directly within the platform rather than exporting data to build them manually.
- To download a report, select the created report to open it.
- Select Export to produce and send DOCX and PDF versions of the report.
Now that you know how to manage milestones, documents, and reports, you have successfully configured the foundational elements of your operational audit in FloQast. Keep an eye out for future updates as we continue expanding program capabilities.