Big data represents both a growing risk and a growing resource for internal auditors, prompting the Institute of Internal Auditors to offer some new guidance meant to help auditors address it and leverage it.
The IIA’s nearly 50-page paper provides an overview of big data for the benefit of internal auditors who may be tasked both with using it and assessing risks associated with it. The paper covers the value of big data, the components, strategies, implementation considerations, data governance, consumption, and reporting, not to mention the associated risks. The guide explains what the IIA regards as internal auditors’ roles and responsibilities when performing any kind of advisory or assurance procedures related to big data.
