If your internal auditors are spending too much of their time collecting, sorting and storing evidence, you’re not alone. The Public Company Accounting Oversight Board (PCAOB) recently found that up to 40% of resources are spent on manual processes instead of high-value tasks like improving the quality of findings.
If your company has a December 31 fiscal year-end, you’re likely in the throes of completing SOX year-end testing and documentation. But before you call it done, and the team moves on to other things, take time to conduct a post-mortem: What went well? What didn’t? And how can you make it better?
If there was ever a year to be “agile” it was 2020. Fortunately, Agile and developing an agile mindset is not a new concept—it’s been around for decades. However, the importance of taking the concepts of business agility and applying them in a pragmatic way has never been more relevant.