- Company: PwC
- Position: Senior Manager
- Remit/main activity: Leader Internal Audit Banking
- Place of work: Zurich
What makes my work exciting?
Internal audit is on the brink of realising the advantages of digitalisation. This will not only fundamentally change working methods – making them more efficient and effective – it will also lead to greater appreciation of the value added by internal audit teams. To fully leverage the advantages offered by digitalisation, internal audit managers need to take a systematic approach to deploying digital tools, adopting new ways of working and enhancing the expertise of their teams. Digital transformation affects the three lines of defence in different ways and may render some tasks obsolete. So it is important that the lines of defence are continuously adapted to optimise companies’ risk mitigation measures. For companies at an early stage of their digital transformation, close coordination between the lines of defence is not only essential, it also offers early opportunities for achieving a successful transition.
How has the industry changed? What are the challenges of the future?
For internal auditors to benefit from digital solutions they need to be bold, have faith in proven technologies and adapt, while consistently striving for their objective. Some steps will be evolutionary for the internal audit profession, others revolutionary. In any case, internal auditors need a clear roadmap for their organisation’s digital transformation that guides their steps.