Internal Audit Still Lags in Use of Data Analytics

INDUSTRY

2020 has been a difficult year for many. With the recent economic downturn threatening the very existence of businesses across the country, senior management in countless businesses are looking to Internal Audit to help quickly identify emerging risks and share valuable insights learned from audits. Despite this increased demand, however, Internal Audit departments are still…

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5 Benefits of Adopting Data Analytics in Internal Audit

INDUSTRY

Data analytics is used to analyse data and, among other reasons, find transactions that don’t fit normal patterns. These transactions may have a higher chance of causing a material misstatement or even indicate fraud, and data analytics solutions can be so powerful that some auditors worry they’ll be replaced by machines. But data analytics tools…

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Audit Trends Report 2020

INDUSTRY

Read no further than any business blog, social feed, or analyst report, and it’s plain to see technology is disrupting business, around the globe. The same is true in internal audit, where data analytics, AI and machine learning, and big data have all presented new challenges and possibilities for the profession.   How are auditors…

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The Basics of Internal Audit Management: 4 Essential Steps

AUDITWARE

The internal audit process can be very complex, but the fundamentals are straightforward with the right internal audit management approach. This article provides some back-to-basics tips for your next internal audit. Planning An internal audit identifies risks that may prevent an organisation from achieving its goals, whatever they may be. For example, private sector companies…

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