Agile and more effective internal auditing

It is a pleasure to talk about a consultant’s paper on internal auditing that has significant value. Far too often, my posts are critical. This time is different.

A new KPMG Australia paper has a somewhat limiting title of “COVID-19: Enhancing internal audit effectiveness”. The subtitle, “A practical guide for agile internal audit” is more meaningful.

While COVID may have been the stimulus for the paper and a good marketing tag, the paper makes suggestions that should have pre-dated and now continue past this crisis.

• Agile internal audit techniques allow for a timely and fit-for-purpose approach to providing assurance during uncertain and changing times.
• Agile internal audits are founded on the agile project and change management methodology, built to accommodate continually changing circumstances. As the agile method is shorter and iterative it allows for more flexibility and delivers greater impact when new initiatives arise, or significant business interruption occurs. Agile approaches to delivering outputs are increasingly being used across all organisations, including second and third line functions.
• Agile internal audit delivers reduced costs, efficient delivery and improved…