Research Highlights

  • 43%
    CAEs state that their internal audit functions are fully or partially prepared to anticipate and react to disruption1
  • 56%
    Internal audit leaders believe technology adoption impacts internal audit’s value to the organization2

[1] “2018 North American Pulse of Internal Audit” by The Institute of Internal Auditors (IIA), [2] Moving at the speed of innovation: 2018 State of the Internal Audit Profession Study by PricewaterhouseCoopers

Key Objectives

In today’s dynamic and disruptive business environments, the responsibilities of Chief Audit Executives (CAEs) have evolved beyond simply providing assurance. New generations of CAEs are expected to look ahead, anticipate, and address changing risks in a proactive manner. Businesses are relying on them to preserve as well as create value.

As a key player at the center of the assurance function, CAEs have the ability to drive performance and growth by delivering timely insights on emerging risks and opportunities. They also play an important role in tracking regulations, and ensuring that effective programs are in place for risk and compliance management. Some CAEs are expected to go even further, looking at how new technologies like artificial intelligence, the blockchain, and machine learning can be leveraged to benefit the business, as well as to improve the performance of the internal audit function.

With the board and executive management demanding deeper and more timely intelligence on risks, many CAEs and internal auditors are turning to MetricStream to support them with advanced technology and analytics.

Measurable Outcome

Reduce potential compliance violations, fines, and legal costs by ensuring that effective systems and controls are in place for risk and compliance management

Drive revenue by making well-informed recommendations on how to leverage potential opportunities, as well as improve processes and controls

Decrease costs by identifying and minimizing control gaps, inefficiencies, and redundancies

Enable the business to effectively execute on its strategic priorities by providing timely risk intelligence and advice

MetricStream Solutions Can Help

  • Align audits to strategic goals, objectives, and business risks

    • Improve stakeholder trust in audits by linking the objectives of the audit plan to the organization’s strategy
    • Optimize audit productivity and efficiency by prioritizing resource allocation based on strategic objectives and risks
  • Enable an agile, intelligent, risk-based audit program

    • Prioritize audit plans in response to changes in the organization’s risks, operations, programs, systems, and controls
    • Broaden the audit scope to include emerging risks such as cybersecurity and technology risks
  • Strengthen collaboration with other lines of defense to provide integrated assurance

    • Ensure comprehensive coverage of risks, compliance, controls, and policy management programs
    • Provide the audit committee with an aggregated view of risk and compliance issues that impact strategic objectives
  • Deliver a unified view of risks and compliance to drive informed decisions

    • Strengthen the board’s and leadership’s confidence in audit abilities by improving visibility into risks and compliance
    • Identify potential opportunities and areas of improvement; enhance internal controls and overall governance

Learn more about how MetricStream can help CAEs.

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