Internal auditing
firms are highly investing on cognitive Intelligence, and robotic process
automation (RPA) to help analyze and automate the large inputs of digital data
arriving from large scale internal auditing projects. Cognitive intelligence
analyzes large data and automatically picks out anomalies based on trends that
the system has learned from previous analyses. RPA uses pre-set rules and
applies it to large data and helps the internal auditors to automatically
identify, assess, and monitor risks. Cognitive intelligence and RPA helps in
drastically cutting down the manual load of internal auditors. KPMG and
Deloitte are some of the internal auditing companies who are actively investing
THE BUSINESS
RESEARCH COMPANY VALUED THE GLOBAL INTERNAL AUDIT SERVICES MARKET AT $35 BILLION
IN 2017
North America was
the largest geographic region in the market, accounting for more than one-third
of the global market. The USA was the largest country accounting for nearly
one-third of the global internal audit services market.
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the report at:
According to
The Business Research Company’s Consultant, Nitin Gianchandani, agile internal
auditing is being applied to audits and projects for rapid response in emerging
issues, closer collaboration with stakeholders, faster delivery cycles and
streamlined reporting. Agile revolutionize internal audit by making more
relevant, risk based and real time.
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Ernst & Young was the largest player in the internal audit services
market, with revenues of $20.2 billion in 2016. Ernst & Young’s growth strategy aims to
expand its assurance division to provide high quality audit quality. In 2015,
the company invested more than $400 million into audit transformation. This
included funding for new audit tools and upgrade their services to help clients
comply with AASB 15 accounting regulation issued in 2015. EY also seeks to
expand its global operational base as it recently acquired more than 30
companies worldwide.
The internal
audit services market includes examining, monitoring and analyzing activities
of company operations by independent internal auditing
companies/consultants/professionals. The services are intended to identify
potential risks or fraudulent activities, help improve internal control,
efficiency and corporate governance and help in effective enterprise risk
management.
Internal Audit Services Global Market
Report 2018 is a detailed report giving a unique insight into this market.
The report is priced at $4000 for an individual user. To use across your
office, the price is $6000 and $8000 if you wish to use across a multinational
company.
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The Business Research Company
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Business Research Company is a market research and intelligence company, which
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Business Research Company's management has more than 20 years of varied
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to the senior management of some of the world's largest organizations.
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