Internal audit functions that embraced new technologies, tools and methodologies prior to Covid-19 pandemic are better positioned to weather the ‘new normal’
MENLO PARK, Calif., October 1, 2020 – In the 16th edition of its Internal Auditing Around the World® profile series, global consulting firm Protiviti shares findings from in-depth interviews with chief audit executives of some of the world’s most well-known companies. Most of the interviews took place during the last two weeks of March 2020 amid a growing wave of coronavirus lockdowns. Despite the global uncertainty, the report finds that in cases where internal audit functions were already well advanced in their embrace of new technologies, tools and methodologies, leaders believe their teams are positioned to weather the ‘new normal’ – and beyond – and help their organisations in their efforts to transform digitally.
The organisations profiled in the 2020 edition of the study, titled “The Future Auditor Has Arrived,” represent a cross-section of countries and industries and include Campari Group, Lloyds Banking Group, Microsoft Corporation, Milaha, Olympus Corporation, Radobank, Salesforce, SF Express, Starbucks Coffee Company and others. The study is available for complimentary download here.
“Internal audit functions on the transformation path to next-generation auditing before the upheaval of the pandemic will be those who thrive in the long-term and help their companies’ leaders to navigate risk and provide deeper insights in a post-COVID-19 world,” said Brian Christensen, a Protiviti executive vice president and leader of the firm’s global internal audit and financial advisory practice. “The organisations in our 2020 report have been able to use the current, unexpected disruption to demonstrate operational resiliency for whatever challenges the future may bring.”
The new edition of Internal Auditing Around the World asks how internal audit teams can be transformed to serve the ever-changing business landscape. The report provides insights into how high-performing and forward-thinking internal audit teams are innovating and transforming themselves into agile, multiskilled and technology-enabled organisations.
Audit leaders from 11 organisations were interviewed and their experiences are presented as case studies in the book. To access a complimentary copy and view past editions of Internal Auditing Around the World, please click here.