[Submitted by CA. Ramachandran Mahadevan]
April 11, 2017
- Data analytics is gaining a foothold in internal auditing – Two out of three departments utilize analytics as part of the audit process.
- Most internal audit shops are still in their “analytics infancy” – A strong majority judge their analytics capabilities to be at the lower end of the maturity spectrum.
- The more mature analytics capabilities are, the greater value they’re perceived to deliver – Organizations with more advanced analytics capabilities in the internal audit department see greater value coming from data analytics.
- Cybersecurity, cloud, mobile tech and big data are top-of-mind – These and other technology-related risks dominate the priority lists for CAEs and internal audit professionals.
- Business and digital transformation is drawing more attention – Not only is this a much higher priority compared to prior years, but its effects are infiltrating most audit plans and activities.