The Qualitative Advantages of Audit Analytics
As The Institute of Internal Auditors (IIA) updated Three Lines Model instructs, internal audit is independent, not isolated. Internal audit’s independence and relationships across the organisation perfectly position its practitioners to provide objective advice and assurance. Audit analytics technology unlocks new opportunities to collaborate with and provide value to other areas of the business. As you make the case for audit analytics, ensure your boards and business leaders understand the full depth and breadth of analytics’ quantitative and qualitative benefits to the organisation.
To help you do so, download a free copy of The Qualitative Advantages of Audit Analytics. Trent Russell and Scott Madenburg of AuditBoard examine how organisations can leverage audit analytics technology to unlock new opportunities to collaborate with and provide value to other areas of the business, including:
- Attracting, retaining, and developing top talent. In the war for talent, investments in next-generation technologies like analytics aid recruitment and retention.
- Surfacing valuable and timely insights throughout the year. Analytics can yield fresh insights into strategic objectives, processes, risks, and controls on an ongoing basis.
- Opening doors to collaboration. Sharing audit analytics tools can help stakeholders implement analytics and improve workflows in their own functions.
- Strengthening stakeholder relationships. Build trust by providing tools and insights to make stakeholders’ jobs easier and enable them to provide more value in their roles.
- Increasing stakeholder engagement and risk awareness. Engage stakeholders across the business in day-to-day risk management to drive awareness and buy-in.
