Automating controls: Changing the landscape of the internal auditor
Most controls carried out by internal auditors are manual, but companies could save time and improve efficiency by automating the process, argues Marc Jackson.
Many organisations spend significant resources to ensure compliance with corporate policies, industry regulations, audits and standard operating procedures, but the minimal return on investment they see on this activity is a major problem.
Continuous controls monitoring (CCM), whereby an automated controls system enables controls to be operated and monitored more cost-effectively, is increasingly seen as a way of resolving this issue. Overall, CCM improves IT security and governance-related financial activities. It also benefits audit efficiency, thereby reducing the burden on the internal audit (IA) department’s time.
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