Auditors need to adopt dynamic auditing techniques to remain competitive in today’s fast-moving business environment, ECIIA President says in an interview with IIA Greece’s newsletter.
“Internal auditors must establish a dynamic and efficient approach to identify, address and report risks early,” he says. To do so, auditors can adopt dynamic audit planning strategies, for example, and make the connections between the second and third lines of defence stronger. “Communication throughout the entire organisation is crucial,” he adds.
Stein also urges auditors to keep their skills up to date through continuous training. They need to keep an open mind to properly identify and understand new and emerging risks he adds.
In addition, promoting the internal audit function within the organisation through modern forms of communication, such as social media, is crucial. “Make sure you network within the organisation as well as with external colleagues to get a sense of the challenges each is facing,” he says.
Read the full interview here.