Global Chief Audit Executive Research Survey: India perspective

The findings of the Deloitte CAE Survey 2018-India perspective highlight the fact that CAEs in organisations are beginning to recognise the need to transform the face of IA as a response to the changing business scenario. However, organisations may encounter bottlenecks in the process of understanding and implementing the necessary transformation. The report vividly portrays key aspects of this struggle and suggests ways in which IA can enhance its contribution to the organisation.

According to the survey findings, the IA function must integrate with the functions at the second line of defence in an organisation more effectively and provide more value to the business and its stakeholders.

Implementing analytics as a part of the audit scope and during fieldwork is a key strategic priority both in India and globally. Expertise in analytics has been cited as one of the key competencies required in organisations. However, survey findings suggest that in most organisations, the IA function is yet to deploy the available analytics tools to their full potential in high risk areas, such as audit planning, continuous auditing, and continuous risk assessment.