Adopting Agile Internal Audit Methodology

Adopting agile internal audit methodologies across various industries and regions addresses emerging significant risks associated with fast and permanent changes in organisations' external environment and internal factors. Agile is a way of approaching work based on iterative development where requirements and solutions evolve through collaboration between self-organizing, cross-functional teams, all focused on delivering the most important business value and continually improving. In our article we present Deloitte?s agile internal audit concept. Deloitte?s concept consists of the following. Planning phase includes preparation of user stories, grouping user stories in audit backlog, preparation of audit plan/internal audit canvas, and checking if Definition of Ready to start internal audit engagement has been met. Execution phase of agile internal audit engagement is performed through sprints i.e. time-boxed intervals in which specific tasks must be completed. Daily stand-up meetings are organized during the spring execution. The Sprint Review Meeting is organized at the end of Sprint when it is checked if Sprint Definition of Done (DoD) has been met. Sprint ends with preparation of a report or Sprint Point of View (PoV). Internal audit engagement ends with preparation of the final Points of View (PoVs). The agile internal audit concept must conform with the Standards. Recent Deloitte?s survey showed the number of internal audit departments that either adopted or are considering adopting agile methodology increased by 3 times in the period 2018?2021. Internal audit departments should consider benefits and costs associated with performing agile internal auditing.

Dra?en Rajakovi?*

SIR*IUS 6/2022