With advanced data analytics tools and training, internal audit teams can quickly and efficiently extract deeper truths from data available in any format, and even drill down to causal factors in real time. This level of next-generation data analysis is vastly different from the spreadsheet-based sample analysis of traditional internal audit, and requires new tools, new talent and training.

This article looks at ways internal audit teams are using advanced data analytics to provide more efficient, effective and even predictive assurance and risk management.