Part 2: Gathering, Understanding, and Visualizing Data
As organizations increase their reliance on data to enhance products and services, internal auditors are positioned to leverage this ever-growing resource. Data analytics, robotic process automation (RPA), artificial intelligence (AI), and other tools provide practitioners accessible and valuable avenues to improve efficiency and effectiveness in assurance services and increase internal audit's value to the organization. Areas where data analytics can improve internal audit services include performance reporting, fraud prevention and detection, continuous monitoring, and risk assessment.
This Global Knowledge Brief, the second of three that focus on data analytics, explores data in its various forms, data gathering techniques, the importance of data validation, data analysis, and keys to effective storytelling with data.