Too many people see internal audit as a compliance function. But we know the truth: Internal audit can help make your bank or financial services company more innovative.
It starts by making sure that internal audit’s strategy reflects the broader strategy and culture of your overall organization, including your stakeholders’ needs.
Our internal audit consulting, advisory, and transformation teams can also help you create a culture of change by empowering your organization to embrace processes, people, and technology that will help you achieve your goals. We’ll show you how you can better handle your risk management and compliance responsibilities — while creating value and driving meaningful insights.
To innovate, you have to be willing to take risks and make mistakes. This may not come naturally to some internal audit departments.
Crowe helps teams like yours, across all kinds of organizations, see themselves differently.
Our internal audit consulting, advisory, or transformation teams can help you position your department as an incubator for new and promising practices that can drive the entire organization forward while better protecting it from risk.
So many people assume embracing new technology is where internal audit transformation starts. It’s actually the last step.
Once internal audit’s strategy is aligned to your bank’s strategy, you can start thinking about the processes that will enable the strategy and the specific skill sets that will bring these processes to life.
Crowe helps you build a sustainable strategy, identify the people and processes that will power it, and then find the technologies that will support your team’s innovation goals.
If it makes sense for your strategy, internal audit may start embracing tools such as data analytics, machine learning, robotic process automation (RPA), and artificial intelligence.
In the process, your team will develop insights into how each tool can be used and what results to expect.
The insights Crowe helps you uncover can lead to a true internal audit transformation, improving the risk management capabilities of all three lines of defense.
The third line is empowered to provide better risk management and monitoring. The second line can now provide assurance more efficiently, and the first line is better situated to identify and manage risks in real time.
We don’t believe there’s ever a generic approach, or a generic answer. With Crowe on your side, you’ll always feel confident that you’re in the right place and following the right path. Depending on your goals, we can help you with maintaining, aligning, or transforming your internal audit functions.
Our goal is to understand the big picture. Sure, we have an approach and a point of view, but we shape it to each client’s organization, objectives, and reality. Let our internal audit consulting, advisory, and transformation teams help you make sense of what changes (and what order of changes) make the most sense for your organization.
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Blockchain and Internal Audit