From the course: Building a Data-Driven Audit
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Managing the internal audit function: Technological resources
From the course: Building a Data-Driven Audit
Managing the internal audit function: Technological resources
- Principle 10.3 of the Global Internal Audit Standards talks about the importance of obtaining and deploying technological resources effectively, and includes three requirements that must be achieved. The first requirement states, "The Chief Audit Executive must strive to ensure that the internal audit function has technology to support the internal audit process. The Chief Audit Executive must regularly evaluate the technology used by the internal audit function and pursue opportunities to improve effectiveness and efficiency." What I noticed is that these requirements allow the Chief Audit Executive or CAE to choose the right approach that make sense for their teams, which is great. Not all audit shops have large budgets to be able to purchase the latest and greatest technological resources. And in some audit shops, it just doesn't make sense to. The second requirement states that, "When implementing new technology, the Chief Audit Executive must implement appropriate training for…
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