How OIL India's MARS System Revolutionizing Internal Auditing in PSUs and making it win?

NEW DELHI- OIL bagged an award in the special category as 1st & the only PSU which has shifted to Management Audit Reporting System (MARS) – A SAP-based review & reporting system developed by OIL under SAP ECC6.  

Shri K A Murali, ED (Audit) received the award in an event organized by IIA, Calcutta chapter at its 30th Annual Conference. Shri. Ajit Kr.Barua (CGM-Audit), Shri. K Sreenu (DGM-IA)  were also present.

Oil India Limited (OIL) is a Navratna public sector undertaking under the Ministry of Petroleum and Natural Gas, Government of India. It is a pioneer in oil and gas exploration and production in India and has been actively working towards adopting modern technology to enhance its operations.

Recently, OIL was awarded in a special category for being the first and only PSU to shift to Management Audit Reporting System (MARS) - a SAP-based review and reporting system developed by OIL under SAP ECC6. This system was introduced to provide a single-window interface to monitor the internal audit system and to streamline the audit process.

What is MARS System?

The MARS system enables OIL to undertake a comprehensive audit of all its departments and functions, including exploration, production, pipeline, and drilling operations. It provides real-time access to audit reports, which facilitates timely decision-making by the management.

The MARS system has been designed to enable a seamless flow of data from various sources, including SAP modules and third-party applications. It is a user-friendly system that offers a centralized platform for conducting audits and generating reports. The system has also been integrated with OIL's Enterprise Resource Planning (ERP) system, which enables easy access to financial data for audit purposes.

OIL's adoption of MARS has resulted in several benefits for the organization. The system has enabled OIL to conduct audits more efficiently and effectively, resulting in a reduction in the audit cycle time. The real-time access to audit reports has also enabled the management to take timely corrective actions and improve the overall efficiency of the organization.

Moreover, the MARS system has improved the transparency of OIL's audit process, which has enhanced the confidence of stakeholders, including the government, shareholders, and customers. The system has also helped OIL to comply with regulatory requirements and ensure that its operations are in line with industry best practices.

OIL's adoption of MARS is a significant step towards digital transformation and reflects its commitment to adopting modern technology to enhance its operations. The system has enabled OIL to conduct audits more efficiently and effectively, resulting in a reduction in the audit cycle time. The real-time access to audit reports has also enabled the management to take timely corrective actions and improve the overall efficiency of the organization. OIL's achievement in being the first and only PSU to adopt MARS is a testament to its commitment to innovation and excellence.