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Data, speed, and controls: Optimizing the role of internal audit

Digitization and the evolution of internal auditors

How can internal audit teams focus on delivering insights to their stakeholders by using innovative technologies that better harness data? Rob King, corporate vice president and chief audit executive at FedEx, discusses the evolution of internal audit in light of digital transformation and how auditors can help drive greater value for the business.

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Data’s everywhere, so where are the insights?

Organizations have been generating, collecting, or acquiring data for years now, but it’s how humans analyze and understand it that matters. Now, internal audit is in a position to translate the data into meaningful insights—ones that can help grow the business.

The data that's available is massive, but how do we use that data to be insightful? How do we use that data to provide foresights? We've got to teach those skills, make sure we bring those skills on.

- Rob King, corporate vice president and chief audit executive, FedEx

Adjusting the controls environment for transformation

The growth of e-commerce and ever-shifting customer expectations continue to accelerate transformation, impacting the business environment and how internal audit responds to those changes.

We've got to be able to respond to the pace of change itself and learn to be resilient through the process.

The role of internal audit must adapt—and remain vigilant

Even as forces of change create new risk challenges, the role of internal audit remains steadfast.

It's important that we continue to provide independent assurance to the board. It's important that we proactively assess risk. We're constantly challenged to make sure we're protecting the brand and identify efficiency opportunities and more importantly be a catalyst for change.

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