Level Up: Risk-Based Auditing
If modern internal audit departments want to keep pace with the ever-evolving world of internal audit, it is vital that a consideration of past, present and future risks precedes every action they take. This means that they must adopt an audit methodology that allows them to undertake risk assessment from an enterprise-wide perspective, and to re-evaluate those processes on a continuous basis.
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Helping audit departments to carry out their responsibilities
The purpose of this white paper is to advise internal audit departments on the steps they can take to elevate their status within the IIA audit maturity model, and ultimately become more risk aware through harnessing the functions of powerful audit management software tools to automate processes and provide unwavering assurance.
Key takeaways:
Adopt a risk-based perspective
How technology can support this shift seamlessly, following the IIA internal audit maturity model.
Move past level 2
How using Pentana Audit allows you to get beyond the 'repeatable' stage of the IIA model.
The “Golden Thread” of Risk-Based Auditing
Take a holistic approach to risk management.
It is clear that leading organizations have discovered efficiencies, better decision-making and improved results by forming strong alliances between the risk management and internal audit functions.
Risk Management and Internal Audit: Forging a Collaborative Alliance
“Jurassic Auditors.” The vast majority of species from [the Jurassic] period are long extinct, because they were unable to adapt. The same could ultimately be true of internal audit professionals who fail to evolve and adapt to changing practices and the environment around them.
Richard Chambers, Internal Auditor Magazine
Almost immediately, Pentana encouraged closer communications with our Risk and Compliance departments, and provided our Audit Director with increased visibility and a complete overview of the audits in progress.
Ludo Schrijnemakers, Senior ICT Auditor