LAKE MARY, Florida., Dec. 27 2021 / PRNewswire / – The Internal Audit Foundation (IAF) of the Institute of Internal Auditors (IIA), in collaboration with AuditBoard, has released a new research report, “The remote auditor: challenges, opportunities and new working methods“, which assesses the impact of remote working on the profession, explores the importance of technology in meeting the challenges of remote working and shares best practices for remote working and maintaining a virtual working environment positive.
As the third year of the pandemic approaches, the question “when do we get back to normal?” has been largely replaced with “how to capitalize on the lessons learned over the past two years to further empower and support the hybrid workforce going forward?” The report presents the results of polls and surveys that help assess the impact of remote work on the profession as a way to answer this crucial question.
The report cites the results of The IIA’s 2021 North American Internal Audit Pulse survey, where 58% of chief audit executives (CAEs) reported that their teams performed all or most Most of their work remotely and an additional 22% said their teams were using a hybrid system. roughly equal and in-person remote working approach. This move towards remote and hybrid audit functions has spurred investment in technology.
New survey data collected for the report reveals that since the start of the pandemic, more than half of respondent organizations have acquired cloud-based technology to facilitate remote collaboration and risk management.
âAs fully remote and hybrid work models continue to become more common, a growing number of audit teams are finding that modern audit technology can help them collaborate better on their work, detect more quickly. risks and dramatically improve alignment and communication with business stakeholders. ” has explained John reese, Marketing Director at AuditBoard. âIn today’s large and dynamic risk environment, it is imperative that internal audit services move in this direction.
A notable challenge of working remotely is the ability to build and maintain relationships with colleagues and audit stakeholders. Leaders should make a conscious effort to schedule formal and informal meetings to ensure connectivity and strong relationships at all levels of the organization.
âThe audit functions that had done several things before the start of the pandemic – including building very strong relationships, making the right investments in technology, and applying technology as part of their reporting methodologies. work – really had a big advantage when the pandemic hit, âexplains Harold Silverman, The Director of Executive Members of The IIA. âWhat we’ve seen is that many less mature internal audit functions that have learned from their peers are starting to make the same investments, especially in the hope that remote work will continue. “
Cultivating an adaptive and intentional mindset will allow listeners to benefit from the lessons learned from the shift to remote working. One company mentioned in the report did just that, re-evaluating its processes and refocusing on the highest risks, and the result was a 50-25% reduction in travel time for its auditors, which enabled to the company to save time and money.
In the future, communication skills and analytical and critical thinking will likely be essential for a successful transition from in-person to hybrid or remote auditing.
The free report is available for download here: “The remote auditor: challenges, opportunities and new working methods.“
About the Foundation for Internal Auditing
The Foundation for Internal Auditing, supported by the generosity of its donors, advances the practice of the profession by conducting global research to explore issues impacting the profession and by funding academic initiatives that support the pursuit and promotion of internal audit training within higher education establishments. For more information, visit www.theiia.org/Foundation.
About the Institute of Internal Auditors
The Institute of Internal Auditors (IIA) is the most recognized advocate, educator, and provider of standards, advice and certification in the internal audit profession. Established in 1941, The IIA today serves more than 210,000 members in more than 125 countries and territories. For more information, visit www.globaliia.org.
About the AuditBoard
AuditBoard transforms the way audit, risk and compliance professionals manage today’s dynamic risk landscape with a modern, connected platform that engages the front lines, highlights the risks that matter and promotes better strategic decision making. Over 30% of Fortune 500 companies leverage the AuditBoard to move their businesses forward with greater clarity and agility. AuditBoard is ranked among the best by clients on G2 and Gartner Peer Insights, and was recently ranked for the third consecutive year as one of the fastest growing technology companies in North America by Deloitte. To learn more, visit AuditBoard.com.
SOURCE The Institute of Internal Auditors