Get the Checklist: 7 Steps to Prepare for Agile Auditing
Many traditional internal audit practices hinder teams’ ability to respond to changes in the risk landscape within an appropriate amount of time — but today’s volatile environment requires it. As a result, teams are turning to agile auditing: The use of agile in internal audit has increased from 14% to 45% in the past four years according to a recent Deloitte survey — with the financial services industry leading the charge.
Agile auditing provides the flexibility needed to respond and react to the rapid shifts in risk exposure that these organizations face. Every company is unique, and its agile transformation will differ based on the team’s size, level of maturity, industry, technology solutions, and other resources available. Depending on these factors, larger organizations may have combinations of commercially available and homegrown technology, as well as professional services/business transformation teams, to support their journey toward increased agility. Smaller banks, credit unions, and insurance companies may have more limited resources at their disposal, but they may also be able to adjust their way of working more easily.
Ultimately, all audit teams share a common goal: a better, modern way to reduce their organization’s frequently changing risk exposure through more efficient, effective, and adaptive assurance practices.
No matter the size of your FinServ organization, AuditBoard’s Conquering Heightened Risk Exposure in Financial Services: 7 Steps to Transform With Agile contains resources to help increase your audit team’s agility and flexibility when responding to emerging risks and deploying audit resources where they benefit the company most.
Download the full guide to learn:
- How to overcome common agile auditing challenges in financial services.
- 7-step checklist to prepare for an agile transformation.
- Ideas to incorporate an agile mindset at every stage of the audit process.
- Keys to leveraging technology for agile audit success.
