Implementing Analytics to deliver Internal Audit

“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?

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Internal Audit : Harnessing the power of analytics

Heard of the famous quote “In God we trust, all others must bring data” by William Edwards Deming? Today is a data driven world. Organizations across the world are accumulating large volumes of data over the years, which can be used effectively  to derive business insights. The power of analytics has transformed the way we do Internal Audit today.

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