LAKE MARY, Fla. (July 6, 2023) – The Internal Audit Foundation and Grant Thornton today jointly released Increase Your Data Analytics ROI: Action Steps for Internal Audit Leaders, a report that outlines survey results from almost 200 chief audit executives and directors who weighed in on how they use data and analytics to create and enhance value, the areas that produce the most value, and the specific types of data they analyze.
Their insights can serve as a guide for enhancing analytic success and overcoming common roadblocks.
Key takeaways include:
- Analytic investments translate to tangible value.
- As usage of data analytics increases, so does perceived value.
- A broad range of use cases to drive value.
- The top 3 areas of value for internal audit were internal controls evaluation, fraud detection, and compliance monitoring.
The survey was conducted as a joint project with the Internal Audit Foundation and Grant Thornton. Responses were received from CAEs and directors from a variety of industries and organization sizes.
About the Internal Audit Foundation
The Internal Audit Foundation strives to be an essential global resource for advancing the internal audit profession. The Foundation’s research and educational products provide insight on emerging topics to internal audit practitioners and their stakeholders, promoting and advancing the value of the internal audit profession globally. Through the Academic Fund, the Foundation supports the future of the profession by providing grants to support internal audit education at institutions of higher education. For more information, visit theiia.org/Foundation.
About Grant Thornton LLP
Founded in Chicago in 1924, Grant Thornton LLP (Grant Thornton) is the U.S. member firm of Grant Thornton International Ltd, one of the world’s leading organizations of independent audit, tax and advisory firms. Grant Thornton, which has revenues of $1.92 billion and operates more than 50 offices, works with a broad range of dynamic publicly and privately held companies, government agencies, financial institutions, and civic and religious organizations. For more information, visit grantthornton.com.