Internal audit has started the journey toward enabling analytics in audit processes, but there’s a long road ahead. This report explains why through the key findings of Protiviti’s 2017 Internal Audit Capabilities and Needs Survey. In a digital world, now is the time for internal audit functions to embrace analytics. The results of this 2017 survey are the most significant takeaway, which shows that chief audit executives (CAEs) and internal audit professionals increasingly are leveraging analytics in the audit process, as well as for a host of continuous auditing and monitoring activities.
In a recent KnowledgeLeader article, Paul Pettit, Director for Protiviti's Capital Projects and Contracts practice in Houston, Texas, explained how auditors can use data analytics to avoid the massive waste spending that often goes hand-in-hand with hiring outside vendors and contractors.
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