Agile Internal Audit – Our Journey to Innovate and Elevate
Although most internal audit functions have identified the need to prepare and adapt in order to remain relevant, few have fully adopted an agile approach. What we have learned is that “Agile Internal Auditing” delivers business value. Agile is iterative and will allow us to continually revisit current risks and reprioritize as a continual process for the audit – both individual audits and the annual audit planning process. The velocity of business is faster than ever before, and the way we have always done internal auditing is simply no longer adequate to serve as an effective third-line of defense in the faster paced world in which we, and our clients, operate. To assure, advise and anticipate risk effectively, we need an agile internal audit process. Questions people may be considering that would be addressed through the presentation are:
- What is Agile Internal Auditing?
- For which audits is Agile Internal Auditing (AIA) most applicable and why?
- What are the benefits of AIA?
- How is AIA applied to different types of audits and assurance projects?
- What are the key elements to consider to ensure a successful implementation of AIA?
- When is AIA not to be considered?
- How well has AIA been received by Management and Audit Committees of the audit entity?