To gain an insight into where various internal audit organizations stand in relation to audit automation and cognitive technologies, the Internal Audit Foundation and Deloitte conducted a survey of IIA members. Based on responses from internal audit leaders across a wide range of organizations, key findings reveal where many organizations are making progress and where there may be gaps. These key findings are outlined and examined in a three-part series of reports.
The secon part of the three-part report series „Moving Internal Audit Deeper into the Digital Age“ answers the question „What Internal Audit Needs to Think About When Auditing Automation?“.
When modern automation tools enter an organization, they do not arrive alone. They bring with them a number of new risks. As discussed in the first part of this series, automation and cognitive technologies can potentially go a long way toward improving organizational responsiveness, speeding process execution, increasing process accuracy, lowering costs, and freeing workers from routine tasks so they can focus on strategic, value-generating activities.
As companies embrace change through automation, internal audit organizations must follow suit and adapt their approach to the expanding digital landscape. As reflected in the survey findings, despite growing involvement by internal audit, there is still a significant opportunity to go deeper and to add more value — that value can be found in part 2.
Part 2 explores six critical components of robotic process automation (RPA) and cognitive intelligence (CI), and examines the output of the automated process to determine the greatest areas of risk and how to audit them.
You can read the full second part of the report series here.