What is the relationship between internal audit and compliance? This is the subject of a new report from the IIA entitled „GLOBAL PERSPECTIVES AND INSIGHTS: Internal audit and compliance: Clarity and collaboration for stronger governance“. To explain the relationship between internal audit and compliance, the report uses the three-line model and is a tool for […]
Internal audit is an activity, so go swimming! This Internal Audit 360° article identifies different types of internal audit leaders. How effective they are in the current era of COVID-19 and volatility, uncertainty, and complexity depend on whether they are on the sidelines or surfing the waves of the organization’s problems. Author Dr. Rainer Lenz […]
Internal audit is well positioned to assess resilience risk and embed resilience in organizations. This is demonstrated in the new white paper „Are We Ready? It’s Time for Internal Audit to Focus on Resilience Amid Extreme Change“ from the IIA in collaboration with Protiviti. The paper helps chief audit executives better understand the importance of […]
What will internal auditing look like in the future? As a result of the pandemic, the definition of „normal operations“ for internal auditing has been redefined in almost all companies around the world. Within internal audit, audit plans were changed, site visits became impossible, and new ways of performing daily tasks were found. Many processes […]
We wish you a happy new year! A new article in Internal Auditor magazine summarizes the key findings of the OnRisk Report for 2022. The report surveyed 30 board members, 30 C-suite executives and 30 chief audit executives from 90 different North American companies. It shows that this year risks are being prioritized that have […]
With societal expectations increasingly permeating corporate governance, companies‘ business models must evolve to deliver sustainable value creation that benefits not only shareholders but also internal and external stakeholders and society at large. In this context, ecoDa and Mazars have jointly published a practical guide to help board members and leadership teams navigate their company’s sustainability […]
To date, the field of research related to internal auditing is still relatively small. In the new paper „New Frontiers for Internal Audit Research“ by Margaret H. Christ, Marc Eulerich, Ronja Krane and David A. Wood, concrete recommendations for future research are given. This was accomplished through surveys, interviews, and discussions with practitioners. Overall, three […]
How long should an audit report be? Does are most internal audit reports the right length? For many stakeholders of audit reports in the executive suite and boardroom, the answer is probably that they are “too long!” So, is the answer ten or twenty pages? Is it two or three? This article from Internal Audit […]
The Covid-19 pandemic resulted in many changes, including for the internal audit profession. However, these changes have not been exclusively negative; topics such as flexible working models, automation through data analytics and audit technology are increasingly the focus of internal audit. This new normal brings with it multifaceted challenges, for example, the basic competencies for […]
The Institute of Internal Auditors‘ new Chairman of the Board, Charlie T. Wright, and the Internal Audit Foundation jointly present their white paper „Future Ready: Upskilling Today for the Profession of Tomorrow“. This paper combines findings from research and the Internal Audit Foundation’s global study „Assessing Internal Audit Competency.“ In particular, the white paper addresses […]
Essential to business success and strategic decision making is effective risk identification and monitoring. A new article from Protiviti will address perspectives on establishing and maintaining leading practices in the context of identifying, assessing, mitigating, and monitoring risks arising from artificial intelligence (AI). Specific actions that organizations can take to mitigate risks during the AI lifecycle […]
Getting people interested in the concept of risk management is difficult, partly because it is not seen as a core business and therefore does not get the attention it needs. While risk management should be a dynamic activity that can respond quickly to changing circumstances, in practice it rarely is. In its new white paper, […]
In times of the COVID-19 pandemic, the risk of workplace fraud has increased significantly in many companies and industries. For example, lost revenue has caused companies to reduce their operating expenses. The risk of accounting fraud is increasing. One type of accounting fraud is real earnings management (REM). In this process, managers intentionally create an […]
The Internal Audit Foundation and Deloitte released a joint Premier Global Research Study, “Assessing Internal Audit Competency: Minding the Gaps to Maximize Insights.” The two organizations collaborated to complement the launch of The IIA’s Internal Audit Competency Framework. The resulting comprehensive report outlines five key findings that help identify areas where there are gaps in […]
Whereas a decade ago boardrooms were concerned with the question „should we invest in digital transformation?“ today the focus is on „how much should we invest and, more importantly, how quickly should we invest if we are accountable to our shareholders?“ Although the question may not seem that complex at first glance, many other questions […]
At the latest since the EU General Data Protection Regulation (GDPR) came into force in May 2018, data protection compliance has been on the risk map for internal auditing. The significant liability/sanction risks as well as the increased accountability requirements have led to the implementation of data protection management systems in companies and in the […]
A new article from Internal Auditor, „Emerging Leaders: Where Are They Now? Internal Auditor follows up with past Emerging Leaders to learn how their careers have progressed – from rising through the ranks to springboarding into other professions“ addresses the career paths of former Emerging Leaders. Many use internal auditing as a springboard for further career […]
Supported by ECIIA, Specialists from the Internal Audit Service at the European Commission have described the way to implement remote auditing by using the new Guide on Remote Auditing for the use of Internal Auditors. This guide describes, what a remote audit is, how to assess whether an audit can be conducted remotely, what tools […]
In the new edition of the study „The Future of Compliance“ by Deloitte in cooperation with Compliance Manager Magazin and Quadriga University Berlin, a total of 360 compliance officers were surveyed. They provided insights into their organizations and shared their views on legislative projects, challenges and future trends. Compliance officers are currently dealing, for example, […]
Register now for the new newsletter of the Chair of Internal Auditing at the University of Duisburg-Essen and stay up to date! From now on, the chair will regularly provide you with the latest news of the chair, interesting facts from research and teaching as well as internship and job offers for students and alumni. […]
An overview of the most significant risks to businesses is provided in the new edition of Tone at the Top, „OnRisk 2022: Timely Insights on Key Risks.“ It discusses a total of 12 risks and identifies obstacles to managing them. Essential to this is the role of risk management. Has your interest been piqued? You […]
A survey of 120 risk executives from around the world conducted by EY shows that risk teams are still struggling to turn risks into opportunities and manage emerging threats. In comparison, CEOs‘ priorities are increasingly shifting from a survival and stabilization mode back to growth and transformation. To support these growth plans in the future, […]
The Covid 19 pandemic is not over yet, and broads and management teams need to address key issues to prepare for the next normality. A new article from McKinsey addresses the issues that managers should be aware of. For example, the first point is, „Boards must strike the right balance between hope for the future […]
The corporate world faced a number of complex challenges last year, including the COVID-19 crisis, new workplace paradigms, extreme climate change, political and economic economic volatility, and urgent calls for racial justice. Despite the expected continued challenges in the current year, the focus of companies must go beyond risk avoidance and compliance. These will, of […]
Technologies offer enormous potential to change and improve working methods. The topic of automating tasks and processes, for example, is also playing an increasingly important role in auditing. Among other things, the use of Robotic Process Automation (RPA), Predictive Analysis (PA) and Artificial Intelligence (AI) in internal auditing is being discussed. A new study by […]
Companies around the world are adapting environmental, social and governance (ESG) issues and shifting them to the center of strategic concerns. They recognize ESG as a driver of value creation and urgently develop a proactive ESG mindset. PwC’s most recent Global Responsible Investment Survey shows that mutual funds are on this path and, with decades […]
Companies face the challenge of positioning and aligning various governance functions. In this context, redundancies should be avoided and coordinated management should take place. In an article by Prof. Dr. Marc Eulerich, Joel Behrend and Benjamin Fligge titled „The New Three Lines Model: Positioning Risk Management“, the Three Lines Model is discussed as well as […]
Do you need a little break from your busy day? Every once in a while fraud stories pop up that are utterly confusing – either because of their hilarious twists and turns or the sheer irony of the plot. The Association of Certified Fraud Examiners (ACFE) has compiled seven of these quirky stories that are […]
While much uncertainty was the only certainty in the CEO Outlook 2020 due to the COVID 19 crisis, optimism is now back in the boardroom one year later. According to KPMG’s „CEO Outlook 2021 – Plugged-in, people-first, purpose-led“, CEOs are confident about the growth prospects of their company and the general global economy. In particular, […]
Auditing evolves like technology. Audits can now be carried out remotely using information communication technology. Due to travel restrictions and the obligation to work from home in the context of the COVID-19 pandemic, remote auditing was no longer an option, but a necessity. Attend this ECIIA webinar on remote auditing, where experts will talk about: […]
A new article from „Internal Auditor“ addresses the various facets of procurement fraud. Internal auditors who are aware of these signs can help identify vulnerabilities. Procurement is a significant function of business, and internal auditors are responsible for immediately identifying and reporting fraud and ultimately making recommendations to strengthen internal controls. To do this, auditors […]
The world has changed. Internal audit must change too. Organisations and their internal audit functions face a dizzying pace of change and unprecedented uncertainty. The pandemic has destabilised operations and labour, disrupted supply and demand, and undermined previously sound business models to an extent few would have thought possible. Internal audit must understand this change […]
Artificial intelligence (AI) changes business strategies, solutions and processes. Not to be neglected at this point are the risks that can come with AI. To create integrated governance for AI, manage risks, and improve performance, applying enterprise risk management (ERM) principles can be purposeful. The COSO ERM Framework provides an overarching and comprehensive framework that […]
It’s not hard work that determines your promotion. It’s making your hard work and yourself visible that determines your promotion. Visibility means connecting the dots from the work you do with the advertisement you are looking for, which means that you are working on getting your hard work and yourself visible to get noticed, recognized […]
A major issue for companies worldwide is cybersecurity. In a new study, McKinsey assesses the cybersecurity maturity of more than 100 companies and institutions from various industries. It shows that some companies in banking and healthcare are quite advanced, but most companies still have a high need to protect their data from threats and attacks. The […]
Why is root cause analysis so important? When you go to a doctor, do you want him to tell you what is wrong with you so that you can begin treating the disease? Or are you satisfied that the doctor only treats the symptoms and does not diagnose the actual disease? Of course not. Well, […]
Increasingly popular in accounting are bots for automating tasks and processes using robotic process automation (RPA). Bots can also be used by auditors to automate repetitive tasks. However, they often don’t know which tasks to automate. The new study, „A Framework for Using Robotic Process Automation for Audit Tasks,“ by Marc Eulerich, Justin Pawlowski, Nathan […]
The corona pandemic turned the standard model of office work on its head. Companies were put into crisis management mode and employees were increasingly working from home. The rapid outbreak of the pandemic accelerated the trend towards teleworking in internal auditing as well. This is the subject of the latest report of the IIA’s Global […]
Cyber security is a key issue in the age of digitalization. For this reason, Deloitte conducted a trend study together with the Allensbach Institute for Public Opinion Research. The aim of the Deloitte Cyber Security Report 2021 is to survey players from politics and business and to compare their positions. One result is, for example, […]
Deloitte interviews in her Legal Podcast Series experts on legal innovations and current topics in the field of German and international business law. In the different episodes the economic relations between Germany and the countries Japan, China, Israel and the Netherlands are discussed. You can listen to the podcast here. Please note: The introduction texts […]
The COVID 19 pandemic also confronted internal auditors with major challenges. For example, auditors had to completely abandon or quickly revise well-thought-out plans and familiar checklists and procedures. To ensure the effectiveness of their organization’s risk management, governance, and internal control processes, internal auditors had to reorient themselves. The importance of agility and flexibility increased. […]
As various technologies converge and mature over the next few years, internal auditors must ask themselves how disruptive innovations can transform their organizations, stakeholder expectations, and the profession itself. If the work of internal auditing is to really enrich and protect, the function must be ready to adapt to new risks and the new requirements […]
Boards often focus on known risks that management has already identified. In this context, in an online survey of directors by the National Association of Corporate Directors (NACD), nearly half of respondents said this tendency is a major impediment to the board’s ability to oversee disruptive risks. Disruptive risks include „risks that, whether internally- or […]
During the COVID-period, financial resilience and stability are paramount for businesses. Because of the pandemic, many companies have faced difficult decisions about cost savings through budget cuts and layoffs. There were also a number of challenges that internal audit teams faced, such as competing priorities and lack of resources. A report by the Chartered Institute […]
The high speed of economic change, digitalization and automation have an impact on the internal audit function. The internal audit function must plan ahead and at the same time react promptly. There is a shift from static, timeframe-based risk assessment and audit planning to a direct situationally reactive analysis of risks. Continuous auditing plays a […]
Looking at any list of large company’s chief compliance officers, several can be found who also hold the titles of chief audit executive, head of risk management, and other roles. Is it possible to combine the roles of Chief Audit Executive and Head of Corporate Compliance or other jobs without sacrificing the independence that is […]
An essential topic for companies is cyber security. In this context, companies must take into account that cyber risks are constantly evolving and that the extent of damage can pose an existential threat. This is also of special importance for internal auditors. In the new article „Reining in Cyber Risk: An understanding of technology, third parties, […]
The German government is responding to the Wirecard fraud scandal with the Financial Market Integrity Strengthening Act (FISG), which came into force on July 1, 2021. For the first time, the legislature now explicitly requires appropriate and effective internal control and risk management systems and creates a direct right of information for the audit committee […]
The near-term challenge of the IA function will primarily be to continue to provide safe oversight while also adapting to the dynamic risk landscape. The IA function must thus be able to deal with the increasing number of emerging risks. The article „Building the internal-audit function of the future“ by McKinsey addresses the challenges of […]
Internal audit, like all other departments in a company, is seen as an investment that is expected to generate meaningful returns. But unlike departments where the return on investment (ROI) can easily be calculated and traced back to the bottom line, internal auditing is faced with the challenge of assessing the inherent qualitative benefits of […]
The new study named „Audit committee chair overlap, chair expertise, and internal auditing practices: Evidence from Malaysia“ by Wan-Hussin, Fitri, and Salim (2021) adds to the sparse literature on audit committee leadership. It examines internal audit outcomes when AC chairs overlap. They use annual reports from 2014 for a sample of the top 100 nonfinancial […]
An independent audit committee is essential for good corporate governance. However, there is no one-size-fits-all solution of what the perfect audit committee should look like. This is because the exact structure and objectives of audit committees worldwide are influenced by the type of business, the regulatory environment, the ownership structure and legal requirements. In addition, […]
On July 1, 2021, the Financial Market Integrity Strengthening Act, or FISG for short, came into force in Germany. Extensive changes were made with a total of 27 articles. The aim of the Act is to permanently strengthen investor confidence in the German capital market. The amendments relate, for example, to Supervisory structures in companies. The […]
Audits in the usual form are currently not possible or only possible to a limited extent. Since it is not an option to forego revision audits, remote audits are the alternative: audits of internal processes that are not carried out in the company on site. Finally, the supervisory and management bodies‘ monitoring obligations remain unchanged. […]
The Covid 19 crisis has changed the risks associated with payments. Deloitte’s article „The shifting landscape of risk: Perspectives on payments companies, internal audit, and the pandemic“ addresses these risks and outlines how the risks have evolved and how payments companies‘ IA departments can improve their understanding of these changing risks. As customers continue to […]
Internal Audit Offices are reopening, but things may never be the same. As the vaccination rate increases and the rate of COVID-19 cases steadily decreases, more and more companies are planning to return their employees to the office. Even so, the work promises to look different than it used to be, before many started working […]
Supervisory bodies also have to face new questions and challenges in the context of the Corona pandemic. A whitepaper from Deloitte takes a closer look at the role of the supervisory board in times of Covid-19. It shows that the main work currently is on the executive. The supervisory board should take a supporting internal […]
According to a global IT risk and compliance survey 2021 conducted by IT provider MetricStream among global security and risk experts, IT security and compliance are the top technology investment priorities this year. When asked about their plans, 38 percent of respondents said they would increase their IT risk management spending this year. However, the […]
Environmental, social and governance (ESG) issues are becoming increasingly important in organizations. Companies are more and more under pressure to publicly commit to sustainability and to report on their activities. To date, however, there are not many defined rules for ESG reporting or what ESG reporting should retain. As part of effective governance, Internal Audit […]
Governance has never been more important as organizations face the turbulence of a global pandemic, technological change, increasing economic disparities, geopolitics, globalization, climate change and much more. The governing bodies and management grapple with questions about disrupted work environments, changing markets and lost revenue. The three-line model of the IIA provides timely answers for organizations […]
The KPMG article formulates various questions that internal auditors should ask themselves in view of the Covid 19 pandemic. From this, it is deduced that immediate action and realignment by those responsible for internal auditing is required. For example, a key question internal audit should ask is „How can an internal audit team better leverage […]
According to a new study by the Chartered Institute of Internal Auditors, Hybrid working creates a “cultural crisis” for companies by undermining employee loyalty, making it more difficult to retain talented employees and detecting fraud. Nearly half of lead auditors believe the move to remote working during the pandemic damaged corporate culture. The steep rise […]
Companies need to face and address environmental, social and governance (ESG) issues. For example, climate change and the reduction of greenhouse gases in business is a major issue in today’s world. Companies have to deal with various risks in this context. Consequently, this also has an impact on the internal audit function. For example, the […]
In the face of great economic uncertainty, the ability to gather and interpret information quickly is vital for decision makers, especially when a crisis turns into a recovery or vice versa. Those who are able to quickly and appropriately understand and respond to the developing situation will not only survive but also create a more […]
The expectations and assessments of CFOs are taken up in the new study by Deloitte. In a survey, CFOs were asked about macroeconomic, corporate strategy and financial topics. A total of 140 CFOs of large German companies were surveyed in the study It becomes clear, for example, that 43% of the companies surveyed have already […]
Regardless of whether it is an audit team of five, thirty or more people, the biggest challenge for any modern audit leader is to stay relevant and add value to the company. In addition to complying with regulations and reducing costs wherever possible, audit leaders also need to stay abreast of current industry topics and […]
The #MeToo and Black Lives Matter movements have drawn attention to grievances and injustices. Related to this, issues such as diversity, equity and inclusion (DEI) are essential for companies. To promote DEI, companies have to start at the top. A key question is, for example, how diverse are boards? The topic of diversity is addressed […]
The importance of compliance in companies has been growing for years. This is because companies have a responsibility to ensure compliance with the increasing national and international regulations and to meet compliance requirements. This can be demonstrated, for example, with the implementation of an effective compliance management system (CMS). As a guideline and support for […]
What is the use of technology in the internal audit function in times of pandemic? This is one of the questions answered in the new report „Internal Audit’s Digital Transformation Imperative: Advances Amid Crisis – Analysing the Impact of 2020 on Internal Audit Functions‘ Implementation of Technology“. The Internal Audit Foundation and the AuditBoard jointly […]
Cybersecurity is certainly one of the most persistent risks of the 21st century, and it has been particularly exacerbated by the pandemic. Organizations had to balance competing priorities and disruptions while making sure their networks were secure. At the same time, criminals have tried to capitalize on the crisis by increasing the pace and complexity of […]
Deloitte’s new „Chief Strategy Officer Survey 2021“ provides insights into the assessments and perspectives of CSOs worldwide on the future shape of the strategy function as well as their own role in times of the pandemic. It identifies a total of four core topics that are on the CSO agenda. These are: – Strategy Evolved: […]
The discussion is constantly being stimulated as to whether the internal auditing department should change its name. The idea is usually suggested to avoid what some see as a negative stigma related to internal audit. Richard Chambers, president and CEO of The IIA, discusses the question of changing the name of the internal audit in […]
The Corona pandemic is contributing to various disruptive changes. Internal auditing is also affected. A recent report by ECIIA, „The impact of recent global trends on internal auditing in the insurance industry“, deals with trends in internal auditing. The focus is on the insurance industry. The report addresses the impact of macro trends, reaffirming the […]
Getting informed of consent or some other enforcement action can be an uncomfortable experience for a company, especially if it has never been dealt with anything like this before. Fines and penalties aside, the process of canceling the order often takes years and the resources required for that process only add to the total cost. […]
How and why do boards get a distorted picture of their organisations‘ ability to protect themselves against cyber-related risks? This is the question addressed in the report „The Risky Six: Key questions to expose gaps in board understanding of organisational cyber resiliency“ by IIA and EY. They identified a total of 6 key questions which, […]
Celonis, the world’s leading provider of Execution Management Systems (EMS), and PwC Germany are launching five new apps that can be used to analyze and improve important business processes. The aim of the apps is to achieve process optimization in the energy industry as well as in purchasing, in shared service centers and in customs […]
The ongoing digital transformation could accelerate in internal audit in 2021. That’s according to a new survey called “ Internal Audit’s Digital Transformation Imperative: Advances Amid Crisis“ from AuditBoard and the Institute of Internal Auditors‘ Internal Audit Foundation (IAF). Twenty-two percent of respondents in a survey say they will implement cloud-based technology this year. Overall, […]
„Agents of Change: Internal Auditors in an Era of Disruption“, the new book by Richard Chambers, president and CEO of the Institute of Internal Auditors, is calling for a faster and deeper transformation of the internal audit profession. The book claims that internal audit must not only accept change, but also become a catalyst for […]
The third part of the three-part report series, „Moving Internal Audit Deeper into the Digital Age: Part 3, Beyond Theory – Scaling Automation Capabilities in Internal Auditing“ from the Internal Audit Foundation and Deloitte answers the question, „How can internal audit help set up governance architecture around new technologies?“ For effective scaling of analytics and […]
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 […]
The first part of a three-part report series, „Moving Internal Audit Deeper into the Digital Age: Part 1 – A Structured Methodology for Leveraging Automation,“ from the Internal Audit Foundation and Deloitte, explores the impact of robotic process automation (RPA) on internal audit. Part 1 examines how the three types of RPA – probots, knowbots […]
According to a survey by AuditBoard and the Internal Audit Foundation (IAF), the ongoing digital transformation of internal auditing will accelerate rapidly in 2021. 22 % of the 134 surveyed heads of internal audit stated that they will implement cloud-based technologies this year. The report Internal Audit’s Digital Transformation Imperative: Advances amid Crisis highlights how […]
Starting from traditional waterfall development, agility has been writ large in recent years. The latest trend is called Development Security Operations (DevSecOps). More and more companies are adopting DevSecOps. They are seen as an evolutionary extension of agile principles. For example, percentage a Gartner publication („Hype Cycle for Agile and DevOps“) shows that the percentage of […]
Do more with less? Which Internal Auditor hasn’t heard the chorus? Most forward-thinking businesses realize the value of internal audit and are increasing responsibilities of internal audit. Rather than immediately asking for more employees, intelligent teams first address these resource constraints by identifying areas where productivity and efficiency can be improved. Implementing new technology is […]
CEO confidence is up significantly – worldwide. With the Covid-19 pandemic already occupying us for a year, CEOs‘ Optimus is at a record high. Overall, 76% of CEOS surveyed believe global economic growth will improve over the next 12 months, up from 22% last year. That’s according to PWC’s Global CEO Survey, which polled more […]
The COVID-19 pandemic has hit the global economy hard. But at the same time, the fundamental disruption of established ways of working has accelerated numerous digital trends, increased the spread of innovations and made newly developed technologies a reality more quickly. In the coming 18-24 months, groundbreaking trends such as the digitization of strategy development, […]
Companies have to deal with various challenges. These include the ubiquitous Corona pandemic, growing social unrest, new technologies, digitalization innovations, and new strategies and business models. The multitude of issues and the complexity associated with them does not make it any easier for companies. Protiviti’s new report presents the top risks currently facing boards and […]
Most internal audit functions spend between 80 and 100 percent of their time doing traditional internal audits, commonly referred to as „assurance work“. Yet, many also do a certain amount of counseling and strive for more. A lot of senior auditors are concerned about how the limited internal audit resources should be allocated across these […]
This current change in the wake of the covid pandemic demands bold steps and new skills from corporate leadership. Traditional topics in boardrooms and supervisory boards such as growth, profit and cost structure are being supplemented by topics related to new risks, safety issues and increased stakeholder interest in governance. Stakeholders increasingly expect companies to […]
There are many areas of internal audit where automation using robotic process automation (RPA) and process mining can be used. In Jean-Marie Bequevort, Expert Practice Leader Internal Audit at TriFinance, opinion, two areas are ripe for automation: (1) data download and analysis to identify red flags, and (2) data visualization to support audit interviews. Why […]
More agile, faster, further. Companies are surrounded by forces such as digitalization, automation, globalization and analytics. This is not mitigated by the COVID crisis, but additionally amplified. Every function in the enterprise is affected. McKinsey’s article looks at business agility in times of COVID and shows that agile companies fared better. Agile companies have examined […]
What do an attack on a chicken coop and a cyber attack have in common? Prof. Dr. Dirk Loomans (Consulting,KPMG) explains in his article, why unusual comparisons provide important insights. The trigger for his reflections was an attack on his chicken coop, which aroused associations with a cyber attack. For him, four important points can […]
In addition to the various challenges in the covid crisis, there is a huch opportunity for digitization. To exploit this opportunity, CIOs and technology-savvy executives play a key role in implementing new approaches strategically. The present shows that companies are already investing in new technologies and business models. The new Deloitte Tech Trends Report shows, […]
The efficient and effective organization and coordination of corporate governance activities is still one of the major challenges of modern corporate management. For many years, it was precisely the so-called Three Lines of Defense model that was used to structure governance functions. However, as more and more open points of discussion regarding practical implementation have […]
Companies are surrounded by disruptive challenges. The Audit Committee is a key contributor to ensuring business agility and resilience in the year ahead, and to meeting the coming challenges. Provitivi’s new bulletin addresses these house demands and identifies the most important topics for the audit committee’s agenda in 2021. Financial reporting is addressed as well […]
The COVID-19 pandemic is fundamentally changing the global business landscape. To better understand the short- and long-term impacts of the crisis — and what companies around the world are doing about it — Deloitte recently conducted a special mid-cycle version of their regular biennial survey of global cost management practices and transformation trends. In total, […]
To better deal with the impact of the COVID-19 crisis, companies are using technology. For example, companies are using AI both within a company and to interact with consumers. A key determinant of the successful use of AI is trust in the technology. According to KPMG, trust is based on a total of four pillars: Integrity, […]
Die Digitalisierung ist omnipräsent und von enormer Bedeutung für alle Branchen. Digitale und analytische Transformationen dienen mitunter dazu, Dienstleistungen und Prozesse zu digitalisieren und gleichzeitig Effizienzsteigerungen durch Agilität und Automatisierung sowie den Einsatz neuer Analysetools zu ermöglichen. Die Herausforderung, die damit einhergeht, ist jedoch der Umgang mit den entstehenden Risiken. Der Artikel von McKinsey geht darauf […]
Oft wird künstliche Intelligenz als der nächste gewaltige Schritt in der Technologie-Entwicklung angesehen, vergleichbar mit einst der Industrialisierung. Zugleich macht der Gedanke an KI vielen Menschen auch Angst: Sie schlägt uns heute schon im Online-Shop Produkte vor, die unseren Wünschen entsprechen. Künftig soll sie zudem Autos steuern oder bei der ärztlichen Diagnose unterstützen. Doch, wie […]
Aktuell steht die gesamte Arbeitswelt aufgrund der Krise im Rahmen der COVID-19-Pandemie vor großen Herausforderungen. Um den Veränderungen bestmöglich gerecht werden zu können, müssen Unternehmen ihre Arbeitsweisen verändern und anpassen. Denn gerade in den Zeiten der Krise sollten Unternehmen vom Überlebens-Modus in den Chancen-Modus wechseln. Wie dieser Wandel in den Unternehmen gestaltet wird, untersucht der […]