Apr 02, 2013
From the Advisory Institute
The current business environment - characterized by compliance regulations, fraud schemes, and operational inefficiencies - requires organizations to adopt innovative ways to assess and manage risks. Data analytics and continuous auditing (CA) can help internal audit (IA) departments simplify and improve the audit process by increasing operational efficiencies, reducing costs, and detecting potential fraud.
Due to lack of resources, many organizations find it difficult to design and implement CA processes internally. As a result, many of these organizations are beginning to effectively leverage data analytics to adopt more mature, repeatable, and sustainable CA processes. Once data analytics is integrated into the audit work plan, it can help implement repeatable and sustainable data analytics processes.
Read Leveraging Data Analytics and Continuous Audititng Processes on the kpmg.com/us website.