Internal Audit has to contribute added value in realizing business objectives and support performance improvements initiatives proactively.
Both 'risk and control evaluation' as well as data analytics are competencies needed to realize such aim. These competencies have to be aligned to perform any activity effectively.
Data analytics could be used to establish process improvement within and beyond Internal Audit (e.g. contribute value to planning).
A pro-active Internal Audit:
performs controls testing and risk assessment on afrequent basis (near real-time) and in an automated manner
identifies risk areas before they have an impact on the business and is perceived as proactive in identifying risks and improvement opportunities
transfers knowledge to business to achieve overall optimization
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In every stage of the project Phenix Consulting will challenge you using best practices to ensure a sound decision making process
Ferry Geertman (RE, CISA) has a background in Applied Mathematics. Ferry has vast experience in data analytics, including the design and evaluation of statistical samples as part of internal and external control. Ferry has extensive experience in advising about and evaluating of (IT)- risk manage-ment and internal controls for multinationals.
Robbert Hoogeveen (MSc, RA) is specialized in the design of solutions in which tax requirements, business processes, and system functionality are integrated, the implementation and the assessment of indirect tax functionality in SAP and tax engines, the design of indirect tax return processes, and the audit of indirect taxes by means of statistical sampling and data analytics.