Agile Auditing

As the business environment changes and stakeholders want more efficient assurance, deeper insights, and more prediction of risks, internal auditors are constantly faced with the task of providing greater value. The profession has a ton of opportunities because of this. Internal auditors need to adopt a new mindset that prioritizes assurance, speed, and efficiency to take advantage of those chances.

In the past, audit and IT projects followed very tight guidelines and procedures, which led to inflexible engagement limits. However, IT projects changed over time, moving from formal waterfall methods to more effective models referred to as Agile.

Agile auditing is an approach to auditing that applies the principles of agile methodology, commonly used in software development, to the audit process. It emphasizes flexibility, adaptability, and collaboration throughout the audit lifecycle. Here are some key features of agile auditing:

Iterative Approach: Agile auditing breaks down the audit process into smaller, manageable tasks called iterations or sprints. Auditors work on these iterations sequentially, often focusing on high-priority areas first.

Continuous Feedback: Stakeholder feedback is solicited and incorporated throughout the audit process, allowing for early detection of issues and the ability to adapt quickly.

Collaboration: Auditors, auditees, and other stakeholders collaborate closely throughout the audit, fostering better communication and understanding.

Adaptability: Agile auditing allows for changes to the audit scope, priorities, and approach based on feedback and evolving circumstances.

Transparency: The progress and status of the audit are visible to all stakeholders, promoting transparency and accountability.

Focus on Value: Agile auditing aims to deliver value to stakeholders quickly and continuously, focusing on areas that will have the greatest impact.

In summary, agile auditing is about being more responsive to change, improving communication and collaboration, and delivering audits that are more relevant and valuable to the organization.

To view more information about agile auditing provided by the IIA, click here.