The Institute of Internal Auditors' Internal Audit Foundation and Grant Thornton have published a new book on using data analytics within the internal audit function.
Data Analytics: A Road Map for Expanding Analytics Capabilities discusses how internal auditors can use data analytics to deal with enterprise risks and controls.
The IIA released the book at its General Audit Management conference in Las Vegas on Tuesday. The book aims to help internal auditors and chief audit executives understand more about investing in data analytics and building an analytics strategy. It discusses some of the main components of a data analytics initiative, a framework for digital transformation, and how to identify the biggest priorities.
“Analytics applications have the potential to transform how internal audit operates and should be a priority for any organization,” said IIA President and CEO Richard F. Chambers in a statement. “This book discusses not only the changing data and data analytic needs of organizations, but also how to define, score, and prioritize analytics projects and determine critical data for enterprise risk assessment.”
Chief audit executives and internal auditors can use some of the examples and advice in the book to develop or improve their strategies for integrating analytics into functions across an organization.
The book was written by Richard Cline, data analytics managing director at Grant Thornton; Ward Melhuish, principal and advisory data analytics practice leader at Grant Thornton; and Meredith Murphy, director in Grant Thornton’s Analytics Center of Excellence.
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