How leading Internal Audit departments combine data, tools, people, and process to drive value from data analytics.
Internal Audit departments are facing increasing pressure to deliver valuable insights and advisory support across their organizations, taking into account competing demands of a diverse stakeholder community. Data analytics has long been held up as the solution for such Internal Audit teams with an ever-growing list of responsibilities without the growing budget to match.
Although the basic concepts of data analytics have remained the same, the practices of leading internal audit departments have been forced to evolve rapidly to keep pace with their organization's evolution. To manage this, leading internal audit departments have adopted frameworks that address the four elements of successful data analytics:
Balancing the requirements of data, tools, people, and process can be a difficult task. However, there are several small steps that can showcase the immediate value of higher quality and efficiency through the use of data analytics in internal audit:
KPMG in Japan can help you at any stage of your data analytics implementation, supported by our advisory professionals with both internal audit and technical experience.