The business landscape is changing...and Internal Audit must keep pace. In today’s dynamic business landscape, organisations are constantly challenged to adapt and innovate in response to evolving market dynamics, regulatory requirements, and technological advancements.
Amidst this backdrop of change, the role of internal audit has become increasingly critical in safeguarding organisational assets, ensuring compliance, and driving operational excellence. But traditional audit approaches are often ill-equipped to keep pace with the scale of change. As a result of the challenge, organisations are turning to data analytics as a strategic lever to enhance the effectiveness, agility, and efficiency of their internal audit functions.
Often, as organisations embark on the journey to integrate data analytics into their internal audit processes, they are confronted with a myriad of complexities and considerations. From identifying opportunities for analytics implementation within the current audit programme to selecting the right analytics tools and upskilling audit staff, the path to successful implementation requires careful planning, resource allocation, strategic alignment, and a clear roadmap for execution.
KPMG has developed a four-part series that serves as a comprehensive roadmap to transforming Internal Audit by leveraging data analytics to enhance audit quality and deliver business value.
In this first part of our series, we unveil KPMG’s Data Analytics maturity model from Traditional auditing to Continuous Assurance at all stages of the Internal Audit process.
To effectively embark on a transformation journey, the first step is to identify the function’s Data and Analytics maturity level. This guide will help you assess your function to determine your maturity stage within all parts of the internal audit process. This is the critical first step in your journey towards Continuous Assurance.
Is your IA Function ready to take the leap?
Enjoy the read!
