In our series of the top 5 ways Internal Audit will be transformed in next decade , today we will discuss about a very vital aspect of Internal Audit, that’s Reporting. As GRC has evolved over last decade, Internal Audit too has witnessed some dynamic changes in it’s Processes and one of them is being equipped with Robust Reporting/Dashboarding tools. This year IIA will be celebrating it’s 75th year of Establishment and at this historic moment, our Chairman Bhavesh Bhagat is going to share his expertise through a Plenary discussion at the IIA International Conference 2016, NY on 19th of July 2016. To participate in this exciting discussion, you can register at
The question in today’s discussion is : How has Internal Audit Reporting evolved over time and what are the dynamic changes we should expect in near future ?
Dynamic Reporting Capabilities
Reporting to the Audit Committee has become efficient with the Emerging Technologies that enable Anytime, Any device, Anywhere Reporting/Dashboarding capabilities. As opposed to having a simple excel sheet put up on a powerpoint presentation, Auditors can now pull up any complex report from the System as and when required using the Cloud Technology.
Emerging Technologies are rapidly changing the way Reporting is done in Internal Audit. Big data analytics is enabling Auditors to slice and dice through mountains of data to uncover new insights; Cloud and Mobile Technology are changing the way Internal Audit works and the Internet of Things is connecting People and devices in exciting ways.
Audit reporting needs to be done in a way that is Real-time, relevant and useful to stakeholders. Dashboards need to be put up in an intuitive way keeping in mind what needs to be presented, to whom and when. Dynamic Audit Reporting is all about integrating Internal Audit Reporting into the metrics and Tools to enable assessments and recommendations.
Give us your feedback on these insights at email@example.com and we can take up this dialogue further. In our next post, we will discuss about the last but not the least and very important aspect of Modern Internal Audit. Stay tuned and participate..!!
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