Investing in digital transformation is high on the agenda of internal audit leaders in Saudi Arabia, with most efforts going to projects adopting advanced analytics and robotic process automation. This is according to a study by Protiviti and the Saudi Institute of Internal Auditors.
For their study, the researchers canvassed the views of leaders of internal audit departments, as well as finance and risk professionals that hold internal audit responsibilities. The survey was held among large Saudi Arabian organisations.
Driven by the ambition to add strategic value to the business, as well as capitalise on a rage of opportunities unfolding thanks to smart technology, internal audit functions are in flux. Around two third of respondents said that they will undertake transformation and innovation initiatives in the coming two years.
“For the Internal Audit function to be relevant, agile, and act as an advisor to the company, they must move away from traditional boundaries to become strategic contributors and strengthen their position at the executive table,” states the report.
A major enabler of driving this transition is digital transformation. By tapping into the power of technology,…
