{ "docId": "019dd923-5ca1-7489-b63a-2fb218645ceb", "docSlug": "881842e1f116409d", "documentTitle": "2019 Internal Audit Profession Study", "authorId": "PwC", "authorName": "PwC", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.775, "pageNumber": 14, "pageCount": 22, "prevPage": 13, "nextPage": 15, "slideType": "key_messages", "function": "summarize", "density": "overcrowded", "nDataPoints": 2, "notes": "The slide is split into two columns of text. The left column focuses on the role of internal audit in emerging technology, while the right column focuses on digital and data governance.", "elementsJson": [ "paragraph" ], "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019dd923-5ca1-7489-b63a-2fb218645ceb/14", "deckHref": "/decks/019dd923-5ca1-7489-b63a-2fb218645ceb", "deckJsonHref": "/decks/019dd923-5ca1-7489-b63a-2fb218645ceb.json", "deckAnchorHref": "/decks/019dd923-5ca1-7489-b63a-2fb218645ceb#slide-14", "components": [ { "bbox": null, "kind": "callout", "text": "Two-thirds of Dynamics ensure the right governance of digital initiatives; 40% help establish those governance standards.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd951-dfa2-7185-b3a3-45032fc9bd59", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.42, "x": 0.05, "y": 0.29 }, "kind": "paragraph", "text": "In the newest of emerging technology areas, Dynamics more often view their role as that of risk consultants who help the business understand risks from the use of the technology and its associated data, or that of governance assurance providers who perform audit or advisory activities to make sure technology governance is established. In more mature areas of emerging technology, such as cloud technology, wherein internal audit has deeper subject matter knowledge, the majority see their role as risk-and-controls-assurance providers. That shows that Dynamics recognise the importance of early involvement in their organisation's new technology use so they can provide risk and governance input, even if they lack deep understanding of the technology. Then, as the technology becomes more and more integral to the organisation, they expand their role to serve as both consultant and assurance provider.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3a9a9a4d-f3d6-4b9d-9740-849fe62344d3", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.28, "w": 0.42, "x": 0.53, "y": 0.27 }, "kind": "paragraph", "text": "Organisations cannot make the best use of emerging technologies without trustworthy data — meaning, data that is clean, accurate, and accessible. For example, RPA relies on good data to efficiently and accurately process information. But if data governance is absent or applied piecemeal, the likelihood of poor data is high, and the risk is higher that new technologies will not operate effectively. Internal audit can provide input as data governance is getting established — and assurance once it is in place. Internal audit functions should ask themselves, (1) Is data governance an area of focus within internal audit's technology audits in 2019? And, (2) Is internal audit confident about data controls — including those for security, privacy, access, and accuracy — in its organisation's use of new technologies?", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4b5641a4-19ed-4294-982e-8bdcb608e247", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.42, "x": 0.05, "y": 0.08 }, "kind": "paragraph", "text": "Dynamic internal audit functions are embracing new technologies from multiple dimensions by providing advice and assurance that appropriate controls are in place as their organisations adopt new technologies and by using the technologies within their own departments to streamline the function.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8d53df9a-3d37-48d8-8487-b569ef518da5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.42, "x": 0.53, "y": 0.13 }, "kind": "paragraph", "text": "Digital transformation cannot progress well without strong digital and data governance, and every internal audit function can and should be involved in that process. Regardless of levels of digital knowledge and skills, internal audit can provide a point of view on governance and can help the organisation learn how changes affect controls operations prior to execution — rather than after the fact.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "94a56894-988b-473a-bc0c-752ed2cb8405", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.42, "x": 0.53, "y": 0.58 }, "kind": "paragraph", "text": "Internal audit cannot plug into every project, and neither can risk management or compliance. But if tied closely to the organisation's digital strategy and if involved early in significant initiatives, internal audit can expand its risk coverage by helping shape digital governance frameworks. Such frameworks guide the many projects that embed the same emerging technology for different use cases, thereby improving the odds that control considerations get embedded too. Internal audit can then focus on testing to see that guidelines get upheld across a selection of initiatives. Two-thirds of Dynamics ensure the right governance of digital initiatives; 40% help establish those governance standards.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b848a225-d083-4aff-bcac-9e07f70ef559", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.75, "y": 0.94 }, "kind": "source-note", "text": "2019 State of the Internal Audit Profession Study | 14", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0e9b4384-1417-4714-bdcc-003936255008", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.42, "x": 0.05, "y": 0.21 }, "kind": "title", "text": "Dynamics have firmer grasp of the role that is expected of them in emerging technology.", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "56d9d141-7384-4593-b963-adcd7b8443bf", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.42, "x": 0.53, "y": 0.08 }, "kind": "title", "text": "Internal audit's digital and data governance role", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f5198786-74d6-4722-bdbf-d07227188db1", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 21, "from": 6, "beatId": "bf6e277f-21b1-4612-848d-f7a6eb9fd4bd", "arcName": "The Consultant's Gambit", "arcSlug": "consultants-gambit", "beatName": "Solution & Approach", "beatSlug": "consultants-gambit-solution-approach", "evidence": "The six habits of risk functions, upskilling, and emerging technologies", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }