Using technology to optimise internal audit processes and increase audits relevance to the business and C-Suite
The role of internal audit has evolved considerably in recent years. There are increasingly demanding expectations around the value that internal auditors should deliver to their organization. Many audit leaders are up for the challenge and want to “earn a seat at the executive table.” As with any critical function in an organization, technology can play a vital role in enabling success. However, many internal audit departments are simply not using technology at the level needed to deliver what is expected.
There is a serious technology performance gap. Many audit teams are relying on outdated technology and processes which limit their ability to function at an optimal level and deliver far greater insights and value.
There are a number of factors that must be addressed in order for internal audit to transform its effectiveness through technology. These include:
- leadership declaring technology as a strategic imperative
- managing technology implementation in the same way as any critical project
- designing an end-to-end audit process that makes best use of current technologies
- understanding the practicalities of integrating analysis and automation into the audit process
- moving beyond a silo approach and aligning audit’s use of technology with that of risk management and compliance
In this eBook, we’ll look at how internal audit can build value, executive alignment, and relevance by “connecting the dots”: