Abstract: A system is provided for audit risk and tracking (ART) including an audit firm application (ART1) and a client bank application (ART2). The system maintains a data model of control activities for a best practices bank (BPB), against which control activity gap assessments are conducted for client banks. An interactive gap assessment report allows insight into controls that are lacking versus the BPB. The ART1 and ART2 systems interact to allow the client bank to interact with the audit firm to cooperate in assessing and managing business initiatives and other control, audit, and ERM activity. Novel risk scoring assessments are provided to help manage client bank controls in relation to the BPB model. A web service is provided that automatically updates the BPB model from ART1 to ART2.