“Jump on the digitalization bandwagon, cooperate with the other control functions, and rebalance your time” were the key messages of this workshop.
Xavier was invited on February 25, 2022 by Verra Marmalidou (President), Effie Kokka (CEO) and Solomon Makis (Training) of the Greek Institute of Internal Auditors to lead a workshop on this subject.
The audit committee is requesting that internal auditors jump on the digitalization bandwagon and exploit the wealth of databases. The pandemic has demonstrated that a considerable amount of information is available remotely. In addition, working live on the databases mobilizes managers in a dynamic of “continuous monitoring”.
The audit committee values independent auditors who are not on their island. It values cooperation with the other control functions because it provides meaning, pace, and cost reduction. The audit committee is very interested in “combined assurance” and “assurance mapping” approaches when conducted by the internal auditor.
The internal auditor was perceived as a pilgrim, always busy dealing with control issues in the field. The audit committee, which is increasingly charged with control and governance issues, is looking for an internal relay who is available to prepare, instruct and supervise new issues such as ethics, non-financial information, etc. The auditor must rebalance time spent in the field with time spent with top executives at HQ.
