Virtual Internal Auditor
EY Virtual Internal Auditor (EY VIA) is a digital platform that transforms the way Internal Audit (IA) is performed by reallocating the workload from humans to machines.
What EY VIA can do for you
In the future, IA will be able to see far into the horizon, even with an infinitely large, complex puzzle — and yet see every single piece in detail. Technology will enable real-time risk monitoring and timely reporting of high-risk findings to instill trust.
Internal audit will become a partner to the C-suite, supporting confident decision making and ultimately contributing to increased business value.
As we move away from the existing methodology, technologies like EY VIA can help us get more from our internal audits. EY VIA combines old and new methods to provide a more powerful and precise approach to the audit.
Digitally confident, dynamic and trusted IA function
EY VIA revolutionizes internal audit. It expands the breadth and depth of risk coverage and focuses on deeper insights, enabling better action plans and controls.
This digital platform enables full digitalization of the IA service delivery:
- Strategy and IA management
- Risk assessment
- Audit planning
- Reporting and communication
EY VIA delivers a comprehensive view that enables audit teams to identify issues in real time. It helps internal auditors deliver a thorough root-cause analysis, and continuous risk monitoring enables the shift from reactive to proactive, providing insights that help anticipate future risks and recommend measures that mitigate or reduce risk.
Some of its unique features include:
- Easy application setup covering the different universes (audit, process, and risk) and data extraction utility for periodic integration with ERP systems (SAP and Oracle)
- Continuous risk monitoring based on transactional and predictive analytics with dashboards, benchmarking, and interpretation of results
- Flexible Audit Response Model (FARM) letting users determine course of action for risk, ranging from a simple query to business function to advanced analytics through machine learning and AI capabilities
- Audit management module covering the life cycle of IA
- Audit plan and scoping of processes, risks, and audit procedures
- Execution including; audit procedure results, findings, and action items
- Review and approval of procedures/findings
- Dashboard and visualization of audit status/progress
- Set-up and generation of reports
- Document repository for all evidences and work papers
EY VIA can help stakeholders identify the strategic priorities of an organization. It empowers management to make informed decisions by having more time to focus on risks and topics beyond today’s scope. Its suite of modules covers and transforms the complete IA lifecycle.
With EY VIA, we bring together a new IA value proposition, methodology, governance and people model that is enabled by technology. EY VIA’s rich features powered by data analytics and state-of-art technology delivers audit excellence for our clients.
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