By Jim Wetekamp, CEO, Riskonnect, as published in Corporate Compliance Insights
As the COVID-19 pandemic magnifies existing threats and constantly creates new risks for organizations to assess, business leaders are seeking added assurance that appropriate oversight, capabilities, and controls are in place – and they are looking to internal audit for help.
With remote work and travel restrictions limiting mobility in many parts of the world, audit leaders, in turn, are finding immense value in the benefits of going digital – mainly speed, broader stakeholder involvement, and robust and centralized reporting. Many risk and compliance teams are finding remote audits to be, in many ways, easier and even more effective than being onsite.
Conducting due diligence digitally, however, comes with a learning curve. Here are four tips to get the most value out of your program, whether your organization has already fully embraced digital audits, or you are just getting started on your journey.