Becoming Agile: Elevate internal audit performance and value has been added to Bookmarks.
Becoming Agile: Elevate internal audit performance and value
Innovating in internal audit to enhance collaboration and deliver timely insights
With increasing demands and diminishing resources, how can internal audit teams keep up? Deloitte’s Agile Internal Audit methodology could be the answer. The articles below offer a closer look at the basics of an Agile approach, how internal audit functions can adopt this methodology, and strategies for internal audit to advise on the risks of business agility.
- Adopting Agile in harmony with IIA Standards
- Auditing Agile projects
- Understanding Agile Internal Audit
- Putting Agile Internal Audit into action
- Considering adopting an agile mind-set? We should talk.
Originally a software development methodology, Agile aims to reduce costs and time to delivery while improving quality. Key characteristics of Agile include delivering tested products in short iterations and involving internal customers during each iteration to refine requirements.
Adopting Agile in harmony with IIA Standards
Agile has been improving software development work since 2001, but it’s only recently been implemented by internal audit departments. This has prompted questions about whether it is possible to adopt Agile in Internal Audit while remaining true to the Institute of Internal Auditors (IIA) Standards (the Standards). Successfully adopting Agile isn’t easy, but the Standards aren’t an obstacle; in fact, Agile can help make internal audit departments more efficient and effective and increase employee satisfaction. Learn how the Standards complement and support Agile adoption.
Auditing Agile projects
Did you know that Agile projects present the same inherent risks as traditional projects? The difference, however, is the Agile process itself and how risks are addressed and mitigated. That’s why internal audit teams may need to take a step back, switch lenses, and adopt an approach that’s flexible and easily adaptable.
In this article, explore auditing strategies and controls considerations that can help your teams be more effective and efficient, while adding value to Agile projects.
Understanding Agile Internal Audit
Agile Internal Audit allows the internal audit function to focus on stakeholder needs, accelerate audit cycles, drive timely insights, reduce wasted effort, and generate less documentation.
In an Agile Internal Audit, internal auditors and stakeholders are able to determine, up front, the value to be delivered by an audit or project. As the internal audit function considers its specific challenges and contemplates a custom solution, Agile helps prioritize audits based on risk and the readiness to undertake the work.
In this article, learn how internal audit groups are applying Agile principles.
Putting Agile Internal Audit into action
Adopting Agile business practices starts with:
- Focusing on a specific Agile method
- Making changes based on your objectives and the culture of your organization
- Implementing your tailored approach
Some organizations use pick-and-choose approaches that lead people to believe that they’re properly implementing Agile Internal Audit when they’re not. As a result, Internal Audit may not get the benefits it expected and could end up blaming the methodology for not delivering targeted benefits.
In this article, explore insights from various companies that are on the same Agile Internal Audit journey.
Considering adopting an Agile mindset? We should talk.
Beginning with their origins in software development, Agile methods have been effective in countless initiatives in various business settings. Building on the original Agile approach, Agile Internal Audit uses methods that change both the mindset of internal auditors and their business processes.
As discussed above, Agile is a change methodology for the internal audit group and its stakeholders. This is crucial, because internal auditors’ work relates to every business and function that affects the organization’s performance and value—and unilateral efforts to change such a function generally fail.
Consider the risks. Consider the benefits. Consider connecting with us.
Assure. Advise. Anticipate.
2018 global chief audit executive survey report