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Analysis

Becoming agile: Elevating internal audit performance and value

Innovating in internal audit to enhance collaboration and deliver timely insights

Constantly faced with increasing demands and diminishing resources to meet those demands, Internal Audit departments need an updated change methodology to help them keep up. Could agile be the answer? Our new three-part series, Becoming agile, takes a closer look at the fundamentals of an agile approach, how your organization can adopt this methodology, and strategies to shift the mind-set of internal audit to be more forward-looking.

What is agile? 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.

Part 2: Putting Agile Internal Audit into action

There are multiple agile methods based on iterative development where requirements and solutions evolve through collaboration between self-organizing, cross-functional teams. However, pick-and-choose approaches lead people to believe that they’re implementing Agile IA when they’re not. As a result, Internal Audit may not only fail to reap the benefits of Agile but may blame the methodology for not delivering targeted benefits.

Therefore, it’s a leading practice to build your foundations on a selected method, make changes based on your objectives and the culture of your organization, and then implement your tailored approach. Part 2 in the series elaborates on our experience working with clients to implement Agile IA and reflects our conversations with various companies on the same journey.

Download the PDF to learn how your Internal Audit organization can start putting agile into action.

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Part 1: Understanding Agile Internal Audit

Agile IA is the mind-set that an Internal Audit function will adopt to focus on stakeholder needs, accelerate audit cycles, drive timely insights, reduce wasted effort, and generate less documentation.

Agile prompts internal auditors and stakeholders to determine, upfront, the value to be delivered by an audit or project. As the Internal Audit function considers their specific challenges and contemplates a custom solution, agile helps prioritize audits based on risk and the readiness to undertake the work.

Download the PDF to learn how Internal Audit groups are applying agile principles to internal auditing and the impact experienced within the organization.

Sample Agile Internal Audit manifesto:

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About the series

From their origins in software development, agile methods have been effective in countless initiatives in various business settings. Becoming agile is a three-part series that presents Deloitte’s methodology for applying agile principles and practices to internal auditing as we help organizations lead, navigate, and disrupt to accelerate performance.

An Agile Internal Audit approach provides methods that work to change both the mind-set of internal auditors and their work processes. Agile also operates at a higher level as 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.

Stay tuned for the release of the third—and final—part of the series in the coming months.

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