A debate on this blog over analytics and the future of internal audit is heating up.
A few readers, including our colleague across the sea, AuditMonkey, have dove in, and skyller and I have responded in kind.
Well, not exactly. AuditMonkey has been more kind, to his credit. But I digress.
If YOUR audit department doesn’t embrace data, analytics, and automation eventually, your audit department will NOT exist.
No data, no analytics. No analytics, no automation. Eventually, no audit department.
Editor Note: This post really applies to all departments in a company, but mainly I’m addressing auditors, but you might want to read between the business lines….
By embrace, I don’t mean have one or two auditors working on this. I mean the entire department.
Before you cite all the regulatory requirements mandating the existence of an audit department in companies, having an audit department in name only won’t cut it.
Having an inept audit department will not be acceptable to regulators, and it shouldn’t be acceptable to company management either. Or Audit Committees!
Companies need skilled and efficient auditors that can do the heavy lifting, and this need will only increase.
Passing the CISA exam does not make you a good IT auditor anymore than passing a driving test makes you a good driver.
Passing either exam says that you know the basics, but you still have a lot to learn.
Most likely, you still don’t know how and when to use what you know and apply it to the current situation. That’s why experience is necessary. Lots of it.
I’m going on a rant here, so reader beware. If you read on, make sure you hang in there until I make my main point in the end.
You just won’t feel the love right away…
Unless your department is still in the early stages of your analytics journey, analytic skills should be one of your hiring and promotion criteria.
In an earlier post I outlined 10 Signs Mgmt Doesn’t Really Support Analytics.
One of the signs is that hiring and promotion decisions are made without reference to a person’s analytic skills.
Here’s a list of all my posts to-date related to becoming or growing as an IT Auditor, all in one place for easy reference.
I’ll add other posts as they are written.
If you’re looking for an IT Audit job, here’s how to use LinkedIn to get noticed.
In a nutshell, you need to enhance your LinkedIn profile so that everyone knows you’re working hard at learning IT auditor skills.
If you’re already working as an IT auditor, use these suggestions to get noticed more and move ahead (or into another company with more opportunities).
In my last post, I described Why Internal Auditors Should Care about Robotic Process Automation.
In this post, I’ll explore whether RPA can replace analytic packages like ACL, IDEA, R, and Power BI.
That might seem like a strange question, but a few managers and a VP have asked me just that recently. Here’s how I’ve answered it.