Internal audit’s ongoing digital transformation is set to rapidly accelerate in 2021, with 22% of respondents reporting that they will implement cloud-based technology this year, according to a survey conducted by AuditBoard and the Internal Audit Foundation (IAF) of internal audit leaders — 83% of whom were Chief Audit Executives.
The report on the survey findings, Internal Audit’s Digital Transformation Imperative: Advances amid Crisis, coauthored by AuditBoard and the IAF, sheds light on how internal audit leverages technology to respond to challenging and fast-changing conditions.
The report reveals that technology use by audit teams has grown for two major reasons: the need to modernize and a requirement for fewer manual processes. In particular, modern, cloud-based platforms offer improved agility, productivity, and collaboration across distributed organizations.
Download your copy of Internal Audit’s Digital Transformation Imperative: Advances amid Crisis to learn:
- The State of Internal Audit Technology Use: How has technology helped internal audit functions adapt to rapidly changing conditions in 2020?
- Choosing a Technology Approach: Have internal audit functions accelerated, decelerated, or otherwise changed their current use or intended adoption of new technology in response to the conditions of 2020?
- The Risk Management Benefits of Modern Technology: What is the most effective type of technology for helping internal audit functions succeed in their response to changing conditions?