Advanced technology is redefining customer experience for Internal Auditing clients

Why is This Transformation Important?

What is the Future of Internal Auditing? 

Our new platform integrates artificial intelligence (AI) and analytics to streamline the internal audit process through increased, real-time collaboration and automation of repetitive tasks. By embracing these modern technologies, we can provide deeper insights, improve accuracy, and enhance efficiency.  

Ruban Thangaraja, Director of Internal Audit at BDO Malta, says that the introduction of this platform marks a step-change in how internal audits are delivered. “It enhances our risk-focused approach by automating routine tasks, enabling us to deliver greater value and assurance to our clients. By combining automation with human expertise, our teams can concentrate on the strategic areas that matter most to our clients” he explains. 

As Ivan Spiteri, Director of Technology Advisory & Assurance, puts it: “This platform redefines how we conduct assurance and advisory engagements. With its capabilities to automate and digitise the end-to-end engagement lifecycle, it offers a single, collaborative platform tailored for modern audit and advisory projects. It is built to adapt to various frameworks, enhancing both efficiency and accuracy in our processes. This advancement allows us to focus on delivering greater value to our clients.”

Here’s how this platform is transforming our internal audits 

1. Better Client Engagement  

Working with clients to create and follow up with requests has never been easier thanks to this platform. It integrates requests into every aspect of the engagement, providing a smooth interface that improves engagement and satisfaction. This seamless interaction elevates the overall quality and reliability of our assessments.

2. Detailed Reporting and Gap Identification  

The platform provides an interactive workspace to analyse documents, generate detailed reports on findings, their location, and to identify any gaps. This thorough documentation enhances the quality of our internal audits and ensures that no detail is overlooked, providing clients with a clear and comprehensive understanding of their compliance status at any point in time throughout the assessment.

3. Scalability for Extensive Compliance Requirements  

The platform enables assessors to handle larger volumes of documentation without compromising on quality. This scalability is particularly valuable for organisations with extensive compliance requirements, allowing us to manage complex internal audits efficiently and effectively.

4. Automation of Repetitive Tasks  

The platform streamlines repetitive tasks such as document collection, reconciliation and mapping against the internal audit procedures. This automation not only reduces manual effort but also allows our auditors to focus on more strategic areas, using a risk-based approach to deliver greater value to our clients.

5. Real-time collaboration 

The platform allows us to seamlessly integrate with various data sources, including real-time and diverse datasets from clients' systems. This capability ensures that we have comprehensive and up-to-date information, enhancing the depth and reliability of our internal audits.