Internal Audit’s Emerging Technology & Tools Summit

Friday, September 18
9:00 AM – 5:00 PM

 

 

9:00 AM – 9:15 AM
Chair’s Opening Remarks
Steve Biskie, Director, National Data Analytics & IT Assurance Leader, RSM

 

9:15 AM – 10:15 AM
An Overview of Emerging Technology & Tools Being Used in Internal Audit

Most internal audit functions are considering adopting advanced tools and technologies to make their departments run more smoothly and automate some processes to provide increased efficiency and free up resources for more valued-adding work. In this session we will provide a roundup of the different technologies that hold promise for improving the way internal audit teams function. We’ll provide a brief overview of more mainstream technologies, such as advanced data analytics, robotic process automation, and data visualization tools and how internal audit can use them to improve what they do. We will also look at the promise held by other technologies, such as blockchain, artificial intelligence and machine learning, and other cutting-edge technologies. We’ll consider where these tools can be useful and how internal audit leaders can go about evaluating them and considering them for adoption.

  • A roundup of the many emerging tools and technologies being applied in internal audit
  • What emerging tools can do and, more importantly, what they can’t
  • How to embrace emerging technology without getting distracted by shiny new objects
  • Creating a mindset of innovation to take advantage of emerging technology 

10:30 AM – 11:30 AM
Unlocking the Potential of Robotic Process Automation (RPA)
Alec Arons, founder, Alec G. Arons Consulting

As more and more organizations look to automate routine tasks using available state of the art tools; they are beginning to understand the best processes for automation are those that are mature, stable and well controlled. One of the top automation tools is robotic process automation or RPA. During this session, we’ll look at what RPA is, how organizations are using it in their internal audit functions, and how to get started with automating some tasks with RPA. We’ll also consider how good data practices can enable RPA and how poor data governance can inhibit it. RPA is becoming a must have internal audit tool and we’ll look at how to get on board with it.

 

11:30 AM – 12:30 PM
Applying Advanced Data Analytics

By now, many internal audit functions are using some form of data analytics in their audit processes. During this session we’ll look at how to move those programs to the next level. How to push data analytics into more audits and to view it more as part of the fabric of internal audit and not just a program that sits to the side of it. We’ll consider how some organizations are using advanced analytics techniques and what they are using them to do. We’ll also consider the tools and strategies available to move data analytics along the spectrum to gaining capabilities and expanding how analytics is applied though the internal audit function and the organization.

 

1:30 PM – 2:30 PM
How Artificial Intelligence and Machine Learning Can Supercharge Internal Audit

The manual process of doing internal audits at many organizations is broken. From bias in audit selection and completeness to inadequate personnel training methods and highly manual, labor-intensive audit processes, many teams are struggling to get a handle on where they can provide the most value. Enter Artificial intelligence. AI enables auditors to direct their assessments to known industry-wide issues: audit completeness, better report investigation, and ensuring best practices during the audit. Applying deep learning accelerates audit functions by resolving routine legwork bogging down the auditors’ ability to assess and report with no compromise on quality. In this session we will cover:

  • What artificial intelligence is as it is being used in organizations today
  • How IA can be applied to internal audit and how to get started using it
  • Examples of how you can use artificial intelligence in your audit work and what it can and can’t do
  • Where IA is heading in the future and what cutting edge applications it may have for internal audit

2:45 PM – 3:45 PM
Fostering an Innovative Mindset Among Your Internal Audit Team

Having all the latest and greatest technology doesn’t mean much if internal audit isn’t prepared to implement it and understand how it can best be applied to solve problems in the function. A key to applying sophisticated tools and technology is developing a mindset of innovation among internal auditors and preparing them to thrive amidst constant change. In this session, we’ll consider some strategies for preparing the internal audit team to become more agile and sophisticated in adopting new technologies. We’ll look at how to become data-focused and practice good data governance, how to start small and advance the use of technology, and what sophisticated tools and technologies can and can’t do.

 

4:00 PM – 5:00 PM
PANEL – Summary of Emerging Internal Audit Tools & Technology and Discussion of Key Learnings
Moderator: Steve Biskie, Director, National Data Analytics & IT Assurance Leader, RSM

IMPORTANT DATES