{"id":1786,"date":"2021-08-12T05:31:26","date_gmt":"2021-08-12T05:31:26","guid":{"rendered":"https:\/\/www.akgvg.com\/blog\/?p=1786"},"modified":"2021-08-12T05:31:26","modified_gmt":"2021-08-12T05:31:26","slug":"trends-in-the-internal-audit-sector","status":"publish","type":"post","link":"https:\/\/www.akgvg.com\/blog\/trends-in-the-internal-audit-sector\/","title":{"rendered":"Trends in the Internal Audit Sector"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1788\" src=\"https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2021\/08\/Trends-in-the-Internal-Audit-Sector.jpg\" alt=\"Trends in the Internal Audit Sector\" width=\"500\" height=\"400\" srcset=\"https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2021\/08\/Trends-in-the-Internal-Audit-Sector.jpg 500w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2021\/08\/Trends-in-the-Internal-Audit-Sector-300x240.jpg 300w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/p>\n<p style=\"text-align: justify;\">The internal auditor must always have a clear understanding of what is happening in the company and where it must come to become more successful.<\/p>\n<p style=\"text-align: justify;\">New technologies, growth in the volume and speed of data exchange, global economic development- all these changes are the requirements for companies.<\/p>\n<p style=\"text-align: justify;\">New challenges and risks appear. The internal audit function should also change, often faster than the company. Internal auditors are now faced with new tasks, for the solution of which new approaches and tools are needed, already somewhat different competencies.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.akgvg.com\/blog\/trends-in-the-internal-audit-sector\/#New_Challenges\" >New Challenges<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.akgvg.com\/blog\/trends-in-the-internal-audit-sector\/#IT_Audits\" >IT Audits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.akgvg.com\/blog\/trends-in-the-internal-audit-sector\/#Digitalization_and_Big_Data\" >Digitalization and Big Data<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.akgvg.com\/blog\/trends-in-the-internal-audit-sector\/#Changing_Risks_and_Audit_Plans\" >Changing Risks and Audit Plans<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.akgvg.com\/blog\/trends-in-the-internal-audit-sector\/#New_Tools_and_Approaches\" >New Tools and Approaches<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"New_Challenges\"><\/span><strong>New Challenges<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"IT_Audits\"><\/span><strong>IT Audits<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Information in the modern world plays an increasingly important role. Ensuring its safety at the stages of collection, processing, storage, and disposal is of great importance to the company.<\/p>\n<p style=\"text-align: justify;\">Today, to solve this problem, audit firms in Delhi conduct IT audits. Almost every division of the IA plans projects in one way or another related to this area. In tech companies, IT audits are more of a necessity.<\/p>\n<p style=\"text-align: justify;\">According to a study of the current state and development trends of internal audit of financial organizations, 26% of them have IT, auditors, on staff, 83% attract external specialists in the field of information technology audit.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Digitalization_and_Big_Data\"><\/span><strong>Digitalization and Big Data<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">The volume of electronic transactions is increasing, companies are moving away from paper media, and this leads to the need to restructure business processes.<\/p>\n<p style=\"text-align: justify;\">More and more organizations are thinking about creating a unit for &#8220;digital transformation&#8221;, &#8220;digitalization&#8221;. Logically, the audit should not only keep up with these changes but even anticipate them and help the business in introducing innovations.<\/p>\n<p style=\"text-align: justify;\">The growth in the volume of information requires new tools to process it. Spreadsheets can no longer cope with such an array of data. Internal auditors are implementing other tools to handle this volume of records and handle them efficiently.<\/p>\n<p style=\"text-align: justify;\">This makes it possible to take the entire data array into processing, rather than samples. As a result, the reliability of the results increases, which, in turn, increases the accuracy of the results of the work of the internal auditors themselves.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Changing_Risks_and_Audit_Plans\"><\/span><strong>Changing Risks and Audit Plans<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">A few years ago, the standard annual work plan of audit departments included a set of predefined audit projects, either ordered by stakeholders or selected based on a risk assessment. At the same time, a certain amount of time was always set aside for unplanned projects.<\/p>\n<p style=\"text-align: justify;\">Today, external, and internal factors are changing more rapidly. As a result, the reassessment of the importance and necessity of audit projects for business occurs more often, and the list of audits performed at the end of the year will most likely differ from the one approved at the beginning of the year.<\/p>\n<p style=\"text-align: justify;\">Conducting unscheduled audits today takes a long time. After all, the questions to which the answers are needed \u201chere and now\u201d arise more and more often in business due to the need for constant changes for the survival and development of the company, and this is why you need to go for\u00a0<a href=\"https:\/\/www.akgvg.com\/audit-assurance-services\"><strong>audit consulting services<\/strong><\/a>.<\/p>\n<h3 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"New_Tools_and_Approaches\"><\/span><strong>New Tools and Approaches<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">New challenges and tasks require audit teams to change the way they work, apply new tools and methods, and consider the most popular and relevant ones for today.<\/p>\n<p style=\"text-align: justify;\"><strong>This content is meant for information only and should not be considered as an advice or legal opinion, or otherwise. <\/strong><a href=\"https:\/\/www.akgvg.com\/\"><strong>AKGVG &amp; Associates<\/strong><\/a><strong> does not intend to advertise its services through this.<\/strong><\/p>\n<p style=\"text-align: justify;\">Posted by:<\/p>\n<p style=\"text-align: justify;\">CA Aman Aggarwal<\/p>\n<p style=\"text-align: justify;\">AKGVG &amp; Associates<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The internal auditor must always have a clear understanding of what is happening in the company and where it must come to become more successful. New technologies, growth in the volume and speed of data exchange, global economic development- all these changes are the requirements for companies. New challenges and risks appear. The internal audit&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[152,304,57,270,391,213,300,65],"class_list":["post-1786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-audit-services","tag-accounting-and-auditing-services","tag-audi","tag-audit-consulting-services","tag-audit-costs","tag-audit-firm-in-delhi","tag-audit-services-in-india","tag-auditing-services-in-india","tag-best-audit-firms-in-india"],"_links":{"self":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts\/1786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/comments?post=1786"}],"version-history":[{"count":2,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts\/1786\/revisions"}],"predecessor-version":[{"id":1789,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts\/1786\/revisions\/1789"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/media\/1788"}],"wp:attachment":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/media?parent=1786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/categories?post=1786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/tags?post=1786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}