Internal audit insights
Creating value through innovation
This series explores the ways in which innovative Canadian business leaders are enhancing the value of their internal audit (IA) functions —and presenting that value to organizational stakeholders in fresh, bold, and innovative ways.
In today’s climate of constant disruption, standing still is not an option for those IA functions who wish to remain relevant. IA functions must move beyond traditional compliance-focused activities and find more innovative and efficient ways to provide assurance, deliver value-added advisory services, and anticipate how new and emerging risks may impact their organizations.
The 2018 Deloitte Global Chief Audit Executive (CAE) report, The innovation imperative, indicates that there are signs this is beginning to happen. In Canada and beyond, CAEs are looking to data analytics, robotic process automation (RPA), cognitive technologies, and predictive analytics to revolutionize their approach to managing risk and enabling their IA functions to become more agile.
Read our series to find out more about how internal audit can enhance its value to stakeholders.
Innovation: the new imperative for internal audit
In a business climate of constant innovation, disruption, and evolution, the internal audit function must keep abreast of the changing risk profile and become more innovative to enhance its impact and influence within the organization.
The road to innovation starts with small steps: reimagining the Internal Audit function
Innovation in Internal Audit is not merely about making new technological investments, nor does it require a complete framework overhaul. To add true organizational value, the internal audit function must change its mindset.
Painting a picture: Integrating advanced analytics into Internal Audit
By capitalizing on today’s wealth of data, Internal Audit can “visualize the information” that generates valuable insights and provides greater assurance through the strategic use of advanced analytics across all phases of the internal audit lifecycle.