Operating agile with internal audit: Signals of change and the risk agenda
The business, politics, culture, and economics of the world are changing rapidly and black swan events continue to emerge. Business leaders are being forced to shift from a mindset of simply achieving milestones to becoming a modern enterprise with agile, nimble, and value-added strategies for people and processes. In an environment built on the foundations of trust, internal audit can immediately identify the risk, evaluate solutions, and engage with the business to be an advanced enterprise.
A KPMG survey found that 26 percent of IA functions had already adopted agile-inspired or dynamic approaches to internal auditing, while a further 45 percent are planning to introduce more agile, and data-driven concepts.1 Agile-inspired approaches, and a strong foundation of trust with stakeholders will allow IA to become influential as a strategic risk adviser attuned to go beyond reactive defense. At KPMG, we work with IA functions to enhance and protect organizational value by evolving the approach to audit projects leveraging Agile principles. Learn more about our Agile approach and building trust with stakeholders.
Start by having a frank discussion about the pains and challenges within the department, incorporating feedback from IA leaders and professionals as well as business stakeholders. Here are some questions that you can ask to begin the dialog: