CAREweb (Control and Risk Evaluation) is a complete Governance, Risk and Compliance (GRC) system that allows for capturing, assessing risks and evaluating the strength of controls in mitigating these risks. It is the only Risk Management Software of its kind available in both languages; English and Arabic.
CAREweb is currently being used by numerous well-known organizations in the region, including 50 of the major financial institutions (mainly banks, insurance companies and investment firms) operating in Saudi Arabia, Jordan, Syria, Lebanon, Qatar and Palestine, which makes AIGC the number one provider of GRC systems for this industry in the Middle East.
CAREweb is not only Bilingual (Arabic and English) and web-based, it has many unique features that facilitate the assessment, monitoring and reporting on risks and controls. These include:
- The ability to quantify the strength of a Business Unit Process control environment. This is referred to as the “GAP in the Control Environment”. The bigger the GAP, the weaker the Control Environment.
- CARE also differentiates between weaknesses caused by lack of controls and those caused by controls that do not work as intended.
- Compliance tests results are entered on the system and the “GAP” adjusts accordingly. If the results of the compliance tests prove that the controls do not work as intended, the “GAP” in the control environment is adjusted accordingly.
- CAREweb also differentiates between the results of “Self-Assessment” tests and tests conducted “Independently” by Internal Audit.
For more information about the software and its modules, please visit CAREWeb website .