The document discusses how the SAP Audit Management application can help internal audit functions streamline processes, promote collaboration, and use data analytics to provide strategic advice beyond assurance. It notes that boards and executive management have differing views on the value of internal audit. Top skills desired for internal auditors include analytical thinking, communication skills, data mining and analytics, business acumen, and general IT knowledge. Internal auditors need to evolve from compliance officers to strategic advisors by investing in skills like analytics.

1. Audit Management:
Transform Audit, Move Beyond Assurance
Discover how the SAP® Audit Management application can help you
streamline audit processes with monitoring and mobile capabilities, promote
collaboration and use data analytics to provide advice beyond the obvious.
Find out more at www.sap.com/audit
Market volatility and complexity, combined with political and regulatory change, are here to stay. But in this greater risk context, what can
organizations do to prepare their internal audit functions with the right capabilities to reach new heights and play a more valuable role?
Internal audit in the spotlight Changing perceptions
Top 5 skills desired for internal auditors
Analytics are a priority
1. PwC, 2013 State of the Internal Audit Profession Study.
2. The Institute of Internal Auditors, 2013: Time To Sieze The Opportunity, Global Report, April 2013.
3. EY, Matching Internal Audit talent to organizational needs, Global Internal Audit Survey, July 2013.
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Boards and executive management have differing views of
the value of an internal audit:
Contributes
significant value
Board
44%
Executive Management
Performs strongly
56%
37%
42%
While most agree data analytics are of key importance,
less than a third of internal auditors use them regularly.
Think data analytics are important to
improve audits and understanding of risk
Plan to expand their use of data analytics
Already use data analytics regularly
Internal auditors are under pressure to increase the breadth and depth of
their skills – especially in analytical thinking – to create value through
business insight.
A worrying
Internal auditors need to
cultivate additional IT skills.
What’s holding you back?
Leaders vs the rest of the pack
The biggest barriers to the integration of analytics are:
Inefficient
data collection
Lack of capabilities
and resources
of internal auditors are dependent on third parties for specialist IT skills.
Internal audit functions must invest in training and up-skilling to gain the
competencies and capabilities to increase the value of auditing and shift
management perceptions.
Internal auditors need to evolve from
internal compliance and validation
officers to strategic advisors.
The top 5% of high performing organizations are more likely to focus on critical risks
and issues and use technology innovations such as analytics to amplify the value of
audit and risk management.
1
Analytical
and Critical
Thinking
2
Communication
Skills
3
Data Mining
& Analytics
4
Business
Acumen
5
General IT
Knowledge
Focus on critical
risks and issues
Top 5% Rest of the Pack
Exploit technology
91%
57%
54%
23%
79%
1
2
1 1
1
3
48% 46%