Robotic process automation (RPA) is quickly gaining prominence among internal audit shops as a must-have technology to increase inefficiency and automate some labor-intensive processes.
RPA is the use of software or other technology to create scripts or “bots” to handle high-volume, repeatable tasks that previously required people to perform. These tasks can include queries, searches for red flags and outliers, complicated calculations, and maintenance of records and transactions.
To shed some light on how RPA can benefit internal audit, we recently talked to Alec Arons, founder of Alec G. Arons Consulting LLC, to record a new episode of IA360 Airwaves, the podcast of Internal Audit 360°. Arons works with chief audit executives and audit committees to improve the effectiveness of audit leaders, develop leadership pipelines, and improve overall performance of internal audit functions. He says that RPA is quickly becoming an important tool in the internal audit toolbox.
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“Back in 2017 and 2018 this was one of those futuristic things that everyone was beginning to talk about, but no one really knew what their organization’s plans for it were,” says Arons. “But as you moved into 2019, it was starting to take hold. So over the last 12 to 18 months it’s really become more prevalent and more and more companies have adopted it. Now leading-edge companies are now starting to think about how they can take it to the next level.”
Internal audit functions are also beginning to expand how they use RPA, says Arons. “They are using it to populate certain internal control testing, and to do testing of SOX controls and IT general controls. They are using it for sample selection, to pick out data anomalies, and to expand on things they have been doing around analytics, like looking at non-routine transactions,” he says. “And they are starting to use RPA to help generate audit reports. It’s also being used as a program management tool. So if you can think about it, you can start to automate many of the things that in the past were manually driven.”
Arons says that RPA has unlimited potential in helping automate aspects of internal audit and to make life easier for auditors. He advises internal audit leaders to jump in. “You can start small and go from there. You need to think about, ‘what if we try to do things differently?’ Some things will work and some won’t, but you just build on your successes and go from there.”
To listen to the podcast, click on the “play” button above. 
Listen to other episodes of IA360° AIRWAVES:
Episode #1: Internal Audit Transformation
About our podcast guest:
Alec Arons is the founder of Alec G. Arons Consulting LLC. He works with CAE’s and Audit Committees to improve the effectiveness of audit leaders, develop leadership pipelines and improve overall performance of internal audit functions. He has over 35 years of experience including 25 years’ experience as a consultant assisting his clients in all areas of Governance, Risk and Compliance. As a partner with a Big 4 Public Accounting firm and the Advisory Practice Leader of a national consultancy, he has assisted companies with Enterprise Risk Assessments, Agile Transformation, Sarbanes Oxley Compliance and managed strategic co-sourcing relationships. He has worked with Fortune 500 and emerging growth companies.
Arons can be reached by email at: alec.arons@gmail.com