It’s no secret that the amount of data that organizations are producing is exploding exponentially. This overload of data can make internal audit coverage ever more challenging given the sheer volumes of data the typical organization generates, especially larger organizations. This problem is often compared to the difficulty of trying Read More
Investigators and internal auditors are using a somewhat simple mathematical principle to catch fraudsters. Known as “Benford’s law,” it is the idea that the distribution of digits in multi-digit natural numbers is not random, nor is it equally distributed; instead, it follows a predictable pattern. In the realm of data Read More
GUEST BLOG POST With the rise of artificial intelligence and ChatGPT, sometimes I think that we internal auditors will all soon be out of a job. But then I have a very boring task to do, and I wonder why I can’t just ask a machine to do it! Just Read More
With businesses facing the strongest economic headwinds in years, the Chartered Institute of Internal Auditors is urging internal auditors to embrace data analytics to navigate more risky, uncertain, and volatile times ahead. To support their call to action the Chartered IIA, a professional organization for internal auditors in the U.K. Read More
Why do some internal auditors shy away from using data analytics? Some say the complexity and jargon surrounding it are too overwhelming. Team leaders don’t know how to distinguish between hype and practical application. Team members are hungry to learn how to apply data analytics but aren’t sure where to Read More
The latest Global Knowledge Brief from the Institute of Internal Auditors and CaseWare, “Four Steps to Starting Internal Audit’s Data Analytics Journey: Demystifying the world of data analytics,” outlines internal audit leaders’ experiences navigating these key steps, along with recommended tools to guide internal audit functions along the way. It Read More
Data duplication is a serious problem that has long plagued organizations and complicated the data analytics efforts of internal audit. At best, it hogs up expensive storage space and frustrates communications with customers; at worst it can lead companies to make flawed business judgements. Business users, data analysts, IT managers, Read More
Certainly, 2020 will go down as the “Year of Covid,” when a pandemic disrupted our personal and professional lives as no other force we have seen in most of our lifetimes. From an internal audit perspective, it meant scrambling to help the organizations we work for stay on their feet Read More
GUEST BLOG These are difficult days for many companies. Recent developments, including the economic downturn and other problems stemming from the coronavirus crisis, threaten the very existence of businesses across several industries, from airlines to retail, to manufacturing. With so much uncertainty and disarray, corporate boards and senior executives are Read More
Despite global uncertainty, internal audit leaders believe their teams are well-positioned to weather the challenges presented by COVID-19 and help their organizations embrace digital transformation, according to a new report from Protiviti. Organizations whose internal audit functions had already implemented new technologies, tools, and methodologies before the onset of the Read More
