(MENAFN- The Peninsula)
Doha: The Institute of Internal Auditors Qatar chapter held a webinar for its members recently on the future of remote auditing.
'Remote work is expected to continue more than before. Therefore it is important to set up the remote audit process and the related tools as thoroughly as possible with long-term success in mind, said Harold Silverman, Managing Director of Professional Practices at the Institute of Internal Auditors, Global, USA.
Harold leads the IIA's CAE Services offerings, including thought leadership on emerging trends and leading practices. He has also held previously internal audit positions at Wendy's. Raytheon Co, PwC, and Arthur Andersen.
The anticipated audit process changes are additional options to work from home, further flexible audit plan, deeper data analytics, augmented agile auditing, and more consulting activities. The peripheral benefits are cost savings, reduced audit duration, and added automation. The decrease in time spend on auditing onsite applies across business areas.
'Remote auditing heightens certain risks and also heightens the need for certain competencies. Though the impact on internal audit competency needs substantially stay about the same, the top competencies reckoned are communication, cybersecurity, innovation, forensic and risk management, Harold asserted.
Planning perfect meetings is a prerequisite for remote auditing. As a prelude, one should discuss and agree on the approach, evidence expectations, technology, privacy, and security concerns, if any. Harold recommended that during a virtual meeting, plan extra time, the video turned on, group chat kept live, and provide related materials well in advance.
'The context and nonverbal cues, including posture, still matter, said Silverman. One of the primary concerns for auditors is accepting support documents as the best evidence for transactions. The consideration for such a decision depends on the time needed to prepare and upload, what is the easiest for a client site.
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