Digitalization Expands Audit Scope Into New Territory

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The digital transformation is being largely driven by customer expectations for real-time, online reporting of account activity, 24/7 access to their accounts, transactions approved in minutes, purchased devices that are ready for immediate use, and more. Organizations across industries are racing to migrate analog approaches to customers, products, services and operating models to an always-on, real-time and information-rich digital business model. This has profound implications for the scope of internal audits, as digitalization crosses departmental and even enterprise boundaries. This article recaps a presentation on this topic at the IIA All-Stars Conference in Las Vegas last October.

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