Enhancing the role of internal audit

Manama : KPMG’s survey findings show that there is a gap between the expectations from Internal Audit (IA) as a function and the views of internal auditors in the Kingdom of Bahrain. 

According to a new KPMG in Bahrain study titled ’Bahrain internal audit survey 2018: Enhancing the strategic value of Internal Audit’, more than half of the surveyed IA professionals (65 percent) consider IA to be a support function rather than a strategic player.

The survey report is based on the analysis of responses from IA professionals in the Kingdom of Bahrain, to obtain perspectives on the roles and responsibilities of IA and how they see the role of IA
evolving.  

 The survey respondents also revealed their aspiration to see the role of internal auditors evolve into a more strategic role. 

According to the report, the future of IA also depends on its ability to embrace emerging technologies. Although digital transformation in IA is in its infancy stage in Bahrain, a majority of the surveyed IA professionals (95 percent) believed that the adoption of technology can trigger greater efficiency.  

Jeyapriya Partiban, partner and head of Risk Consulting at KPMG in Bahrain elaborated on the report’s findings and said, “Having had the opportunity to work with clients from across a full spectrum of size, industry and sector; we have been able to witness and experience first-hand as to how the rapid advancements of digitalization, data analytics, and other technologies impact businesses; and more specifically the IA functions and related activities in the marketplace.”