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Internal Audit isn’t just about managing risk, it’s about creating value. Internal audit is helping organizations move from a reactive to proactive approach, where risks are addressed before they escalate, and processes are improved to deliver measurable business impact. By providing insights that drive better decision-making, discovering opportunities for efficiency, and enhancing overall governance, internal audit is becoming a key strategic partner in achieving business objectives. A recent Supervizor webinar, "Transforming Internal Audit into a Value Driver for the Business," featuring industry experts, explored this shift in detail. This blog post summarizes some key takeaways and if you want to learn more, links to the on-demand recording for a deeper dive.
The Changing Landscape of Internal Audit
Internal audit has traditionally been viewed as a compliance function—one that ensures controls are in place, policies are followed, and risks are mitigated. But today, that role is expanding. With rapid digital transformation, regulatory complexity, and evolving business risks, internal audit is becoming a strategic enabler: providing insights that not only safeguard organizations but also improve efficiencies, enhance decision-making, and drive business performance. CFOs, audit committees, and business leaders have been increasingly looking to internal audit for more than just assurance—they are looking for and, even coming to expect, actionable insights, predictive analytics, and value-driven recommendations.
Key Themes from the Webinar:
The webinar featured insights from internal audit leaders who have witnessed this transformation firsthand, including Hélène Peel, Director of Internal Audit, Internal Control, and Risk Management at European telecommunications provider Orange. Helene shared her perspective on the evolution of internal audit from a compliance-focused function to a proactive, risk-focused strategic advisor. She emphasized the importance of collaboration with the audit committee and board, as well as working cross-functionally with different business units
Joining Helene was André Chisuaka, Director of Internal Audit at global packaging solutions provider Premier Tech. Andres discussed the challenges and opportunities of building a new internal audit department. He highlighted the importance of a "teaching approach" to help colleagues understand the value of internal audit and foster a collaborative environment. André also spoke about the need for new skill sets in internal audit, particularly in data analysis and automation.
Auriane Giovannoni, Head of Solutions Expertise at Supervisor, rounded out the panel of experts. She spoke about how technology can empower internal audit teams to become more efficient and effective. She showcased Supervisor's platform and its ability to automate controls and provide valuable insights from data.
The PPT Framework: People, Process, and Technology
The discussion utilized the PPT framework – People, Process, and Technology – to explore the changes happening in internal audit. These include:
- People: The panelists discussed the changing roles and required skill sets for internal audit professionals. Critical thinking, creative problem-solving, strong communication skills, and data analytics expertise are now essential. Building a diverse team with a global mindset is also crucial in today's interconnected world.
- Process: Internal audit processes are becoming more data-driven and automated. Continuous monitoring and risk assessment are replacing traditional, periodic audits. Cross-functional collaboration and a focus on providing value to the business are also key process changes.
- Technology: Technology plays a crucial role in enabling the transformation of internal audit. Tools like the Supervisor platform automate controls, analyze large volumes of data, and provide valuable insights. Additional technologies and business intelligence tools are also becoming increasingly important.
Learn More and Watch the On-Demand Recording!
This blog post provides a snapshot of the valuable insights shared during the webinar. To learn more about transforming internal audit into a value driver for your business, check out the on-demand recording.
