Unlocking hidden value
How internal audit powers cost recovery and resilience
Amid ongoing economic pressures and technological shifts, organizations are turning to internal audit not just to assess risk, but also to add value. Discover how today’s audit functions are evolving their approach to help create value beyond traditional assurance. Download the full perspective to explore proven cost recovery tactics and real-world success stories, or contact us to learn more.
Driving cost efficiency within internal audit
Optimizing cost and quality in internal audit functions
As organizations manage tighter budgets and new risks, internal audit is maximizing value through operational efficiency, streamlining its own operations while delivering measurable results. Modern internal audit teams are embracing automation, analytics, and workflow optimization to reduce redundancy, accelerate cycle times, and redirect focus toward areas of key risk and opportunity. By rethinking structures, upskilling teams, and leveraging technology, internal audit functions are improving both cost structure and overall cost management, while enhancing audit quality.
Examples of internal cost efficiency:
- Eliminating duplicative audits or overlapping testing activities
- Automating routine documentation and analysis using data analytics or robotic process automation
- Upskilling teams to enhance insights and reduce the need for external support
Key insights that shape the future of internal audit
Explore leading strategies that are shaping innovative audits and stronger business results
Unlocking cost recovery across the enterprise
Harnessing internal audit to unlock business savings
Internal audit possesses a unique vantage point to spot and quantify hidden inefficiencies and missed savings across the business—insights that form the foundation of cost recovery. By conducting targeted reviews—on indirect costs, supply chain contracts, vendor management, or billing practices—internal audit can help organizations recover lost value, tighten controls, and free up resources for innovation and growth. These insights turn audit findings into financial opportunities that advance enterprise-wide cost management and value creation, making internal audit a driver of tangible business results.
Examples of discovering cost recovery:
- Identifying duplicate or erroneous billing and contract noncompliance in procurement
- Surfacing unclaimed rebates, overpayments, or compliance gaps in vendor agreements
- Exposing inefficiencies or leakage in expense management, travel, or shared services
The evolving mandate and lasting value
Internal Audit’s evolving mandate requires a proactive, forward-looking approach—one that balances operational efficiency with innovation, risk mitigation, and long-term value creation. By focusing on both cost efficiency within the function and cost recovery across the enterprise, Internal Audit is redefining its role as a catalyst for strategic growth.
Shreyas Rao
