The role and objectives of internal auditing around the world continue to evolve, expanding beyond controls testing and compliance with regulations and policies. Now is the time to drive your internal audit (IA) function to create business value by improving risk management and enhancing performance through the use of data & analytics (D&A) and continuous auditing.
Leveraging D&A and continuous auditing processes to create value
Companies are increasingly striving to effectively leverage D&A and achieve continuous auditing capabilities within the IA function. Companies encounter many emerging risks including the growing compliance burden and economic uncertainties, increasingly complex and borderless fraud schemes, and decreasing margins. To overcome these risks, organisations need to eliminate operational inefficiencies, and adopt innovative ways to assess and manage risk and enhance performance.
IA has an important role to play in helping organisations confront these risks. The use of D&A tools and techniques is helping the IA function fundamentally transform and improve audit approaches, and creating value for the organisation by improving audit quality.