5 levels of internal audit automation maturity

An internal audit co-source provider is more than a resource; it’s a strategic partner capable of driving innovation through automation. By continuously identifying opportunities for automation, a co-source provider can help an organization cut down on testing hours while enhancing the overall effectiveness and value of the internal audit function. The higher your level of maturity, the more proactive you become—better able to mitigate risks and adapt to unanticipated changes.   

How do you stack up? 

Level 1

Immature 

Your data is minimally incorporated into the risk assessment process—and your data elements are under-defined amongst your stakeholder groups. 

Level 2

Exploratory 

Your internal audit and management teams have pilot analytics in the risk assessment process to determine and validate high-risk areas using historical data. 

Level 3

Strategic 

Your internal audit and management teams engage in a partnership model to define key risks and data elements—which can be examined to validate high-risk domains. 

Level 4

Embedded 

Your teams use a core set of analytics defined and agreed upon amongst your stakeholders in the risk assessment process. You periodically re-run and review analytics throughout the year. 

Level 5

Continuous 

Your key risk indicators (KRIs) are defined with a process in place for ongoing monitoring. Your audit plan is dynamic and adjusted based on the KRIs you track.  

Not as mature as you’d like to be? Finding the right co-source partner can help. Here are the 5 questions to ask as you evaluate a strategic audit partner.