Pages: 5

This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book introduces and gives the salient features of the digital transformation. It examines the successful conditions of strategic planning and the factors influencing the achievement of business-IT alignment. The book addresses IT governance issues. It covers the main internal audit methodologies with a specific focus on IT audit techniques. The book provides an overview of advanced technologies referring to both the tools available to auditors and the systems that need to be audited. It gives some insights for higher education institutions and training institutes on new skills of auditors in technological matters, which auditors must have or develop to be in line with new market needs, and to face tomorrow’s challenges. The book focuses on internal auditing in a COVID-19 era and on post-COVID 19 considerations.

Pages: 25

For decades, the internal audit function has changed in response to the shifts in global business practices. In the context of digital transformation, internal auditing is a key activity whose role must evolve. Digitalization has an impact not only on the audit environment but also on internal audit practices, risk management, and information systems. Internal auditing gradually incorporates agile approaches and continuous improvements with data processing and analysis at the center of the system thanks to increasingly high-performance tools and technologies. These innovations combined with regulatory compliance requirements, the increased volume of available data, and emerging management challenges are changing the environment for practitioners. They also raise several theoretical and conceptual issues for the academic world.

Pages: 34

The evolution of strategic planning and IT/IS strategic alignment has been analyzed by several scholars. Business and IT performance are closely related. The problem becomes even more difficult when it comes to integrating internal audit perspectives. How to achieve alignment between organizational goals and the internal audit function’s objectives? The place of internal audit in the process of strategic planning and business-IT alignment is more and more seen as significant, useful, and valuable for the organization. The audit function is becoming strategic and reflects the need for alignment for a given company at all levels: strategy – organization – functions – business lines – information systems – processes. Misalignment could lead to a failure of strategy and bad corporate governance.

Pages: 34

IT governance is a subset of corporate governance that includes all organizational assets and processes. IT governance is a broad topic that raises several questions in many areas: information technology, information system management, risk management, IT and business alignment, strategy, project management, compliance, etc. There are several IT governance approaches, frameworks, and tools associated with most of these disciplines. At a general level, IT governance should sustain the organization’s objectives (competitive advantage and value creation). IT governance is a key strategic element because it is fundamentally concerned with goals that ensure that IT delivers value to the business in a controlled and efficient manner in order to increase business benefits.

Pages: 33

The growing complexity of the environment in all its dimensions (economic, legal, regulatory, digital, technological, etc.) is encouraging the development of renewed auditing methodologies. These methods have evolved under the impetus of the digitalization of a large number of activities conducted by various stakeholders in the value chain (clients, suppliers, partners, regulatory bodies, etc.), the digital transformation of practices, and the rise of new technologies. The digitalization of the company is a source of numerous risks (technological, cyber, etc.) at several levels (business units, IT department, and processes). In this uncertain context in which strategic decision-making is made even more difficult, auditors and internal controllers once again play a fundamental role.

Pages: 34

Over a couple of decades, there has been a tremendous shift toward emerging technologies such as blockchain, data analytics, robotics, machine learning, and artificial intelligence (AI). They will have a very significant impact on the way internal audits are conducted and will contribute, in particular, to speeding up and improving the data processing process. Performing technology-based auditing could include one or both of the two following distinct but complementary components: auditing with new technology and audit of new technology applications and related uses in the organization. Internal and IT auditors will use more and more new technologies in auditing assignments. These advancements in technology confirm that the internal auditor should play a greater strategic role within the organization. The impact of changes in technology for auditing on the auditor’s roles, skills, and competences is already noticeable. It will be even more significant for the auditing profession in the upcoming years with the emergence of auditors 4.0.

Pages: 24

The COVID-19 pandemic has led to several global shocks in the economy and the society. The new expression (in this context) of resilience throughout the economy has been used. It has given rise to new debates and reflections on the long term and the sudden and brutal emergence of crises. Are forecasting models still of interest in such a context? The COVID-19 has exposed the vulnerabilities of individuals, companies, societies, and economies. The crisis was not foreseeable and raises the question of medium-term and long-term forecasts. The post-COVID-19 situation is also characterized by the acceleration of the transformation of the internal audit function in order to better meet business requirements in an increasingly uncertain and risky environment. What are the priorities for the internal audit functions today? What is the future for internal auditing?