Internal Audit must integrate analytics and big data into its process to keep pace not only with the business, but also with the organization’s competitors.
Internal Audit: harnessing the power of analytics
Global Information Security Survey 2014
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Evolving your business. Globally.
As the world evolves, so do your business issues. The catalysts vary: from geopolitical events to regulatory reform, from new technologies to emerging markets.
And their impact can be swift and far-reaching. Our approach — grounded in industry-specific experience and committed to delivering measurable, sustainable results — can help you adapt and succeed. Even in an uncertain environment.
We can help you with:
- Cyber Security
Organizations must be prepared to combat against, manage and mitigate cyber attacks that can occur anytime, anywhere.
Our 16th annual global information security survey explores the actions organizations have taken to address current threats, how leading organizations are preparing for cyber risks that may be on the horizon, and how new technologies and an innovative approach can help organizations proactively prepare for the future.
We found three levels of response to cyber risk in an environment where cyber attacks are numerous, constant and increasingly complex:
- Improve — What organizations are doing to address the current threats and the challenges that still exist
- Expand — Steps leading organizations are taking to address new threats more proactively
- Innovate — Solutions organizations need to address new and upcoming technologies
Go to ey.com/cybersecurity
- Managing risk — for opportunities
We know you’re concerned about the risks of regulation and compliance – especially if you’re in banking or health care.
Meanwhile, as market volatility and pricing pressures unsettle the landscape, those forces are stimulating competition and creating opportunities.
To strike that balance between risk and opportunity, our research suggests that many leading firms are developing an overarching strategy that balances both.
Our work with clients reveals that there is a need to re-engineer the risk processes across the business, just as was done with finance, manufacturing, and supply chain processes.
The goal is to get better coverage on the risks that matter.
- Internal audit: enhancing and sustaining business performance
Companies value the role Internal Audit plays. But they are looking for more.
Executives want Internal Audit to not only see what has gone before, but also what comes next. They want Internal Audit to provide insights into strategic initiatives, and to share ideas that improve business performance. And they want it now.
Internal Audit as strategic advisor
As a strategic advisor, Internal Audit can:
- Identify company-wide cost improvements
- Offer recommendations that improve business performance
- Provide key insights that focus on risk
We can help you:
- Assess your Internal Audit function and identify areas of improvement
- Identify opportunities to enhance the strategic value of Internal Audit
- Accelerate improvements through cosourcing
- A clearer vision for finance
An effective Finance function that is best suited to the organization can be a critical factor for growth.
Yet 98% of companies feel there are opportunities to improve their Finance function.
The challenge is in marrying conflicting priorities:
- Driving the business forward
- Protecting the organization’s financial assets
Our research suggests 80% of companies are planning to better align Finance with overall business strategies.
To do that, we see three key priorities for finance which involve striking a balance between control, effectiveness and efficiency.
- Control: promote strong governance and control in the organization.
- Effectiveness: drive the business forward, challenge the business and strengthen decision-making throughout the organization.
- Efficiency: drive costs down, integrate acquired teams.
See more about a clearer vision for Finance:
- Getting information technology right
Information technology functions need to strike a balance between risk and performance.
But reality often falls short of this goal.
That’s because IT’s influence on the business has evolved so quickly that many IT functions are still struggling with how to marry their technical expertise with a new business perspective.
Top IT leaders are now facing broad challenges, including:
- Increasingly complex IT and business operating models
- Cost efficiency and transparency demands
- New regulations and new forms of threat
- Corporate responsibility expectations
Our research suggests that successful firms are focusing on these key issues and formulating their response at the enterprise level.
Learn more about getting IT right:
- Shaping effective supply chains
Responding to a business environment that’s more complex and fluid than ever, many companies are adapting their supply chains in two key ways:
- They’re rapidly expanding to capitalize on the growing number of middle-class buyers in emerging markets.
- They’re driving cost efficiencies to boost margins in their mature market operations.
Our research suggests that either way, seven interconnected items come into play.
In growth markets, considerations include:
- Managing operational, tax and regulatory risk
- Enabling new revenue sources
- Establishing an effective supply chain model and infrastructure
In mature markets, considerations include:
- Reconfiguring the supply chain to create cost competitiveness
- Optimizing global spend
- Improving operational agility and responsiveness
In mature and emerging markets, environmental and sustainability matters emerge.
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