“I do not believe you can do today’s job with yesterday’s methods and be in business tomorrow,” Nelson Jackson, automobile pioneer
The availability of large volumes of data is changing the way organizations look at most of their business processes and functions. In the context of internal audit (IA) also, new ways are coming up to utilize the power of analytics. To stay competent and ahead of the curve, the organizations should ask themselves the following questions — Is their organization still relying on traditional methods for its IA process? Does their IA methodology incorporate analytics? If yes, to what extent?