We are pleased to welcome you to our 2023 Internal Audit Digital Analytics publication. The publication highlights key insights from our 2023 survey, with IA respondents across industry sector, sharing their future vision and strategy for Internal Audit (IA) Analytics, as well as touching on challenges and success factors.

In the past two years, we’ve seen consistent growth across functions of all sizes, as well as, a real ambition to develop analytics capabilities. For example, large functions have placed significant focus on developing digital assets while broadening the complexity and depth of analytics application across the Internal Audit lifecycle. Small and medium-sized functions have comparatively fewer skills and resources at their disposal, but have still made progress in many areas. We’ve also seen many move up the maturity curve from “defined” to “mature.”

Key findings from our 2023 report include:

• Growing emphasis on IA functions to gain better and direct access to data with 69% of functions reporting access to appropriate data as being their biggest barrier, followed by skills and knowledge and poor data quality.
• Automation and process mining are still largely unexplored by the majority of IA functions typically due to what are seen as prohibitive cost of off-the-shelf software or lack of relevant skills in the team.
• IA functions of all sizes have improved in analytics maturity especially in smaller functions the “democratisation” of analytics in the Internal Audit has materialised due to lower barriers to entry.
• Whilst smaller functions still placing high focus on expanding the use of analytics in fieldwork, larger and mature functions cited automated Audit Committee reporting as a key area of focus and investment.

Please see below for a Tableau dashboard which has been configured with data from the survey responses and can be analysed and filtered accordingly to present a view by industry / sub-sector or size of organisation.

Access here the Tableau dashboard