The ECIIA Insurance Committee, assisted by Specialists has described the journey to adopt a data-led
approach in the internal audit departments and give examples from the Insurance industry. The paper was presented by the authors in a discussion facilitated by Martin Studer, CAE at Zurich, and a member of the ECIIA Insurance Committee.
The Covid crisis has accelerated the digital transformation for internal audit departments. Their role has not changed but they need to give rapid-fact based assurance and in this context, the demand for using data analytics and data science is growing.
We raised questions such as:
- How to start with data analytics/data science?
- What is the impact of data analytics on the audit process?
- What are the benefits for internal auditors?
- What are the benefits for the stakeholders?
- What are the main obstacles?
- Peter Jones, Head of Data, Internal Audit | Legal & General
- Sophie Krynauw, Functional Audit Director | Zurich
- Robert Zergenyi, Head of Data Science & Data Analytics, Internal Audit Director |Zurich
- Chiara Ziliani, Head of Group Audit Analytics | Generali
Internal auditors may receive a CPE certificate.