Auditteams
Auditteams are specialized groups within organizations responsible for conducting audits to evaluate the effectiveness of internal controls, governance processes, and risk management. They may form the internal audit function or be contracted as external services. The primary aim is to provide independent assurance to senior management and the board that financial reporting is reliable, regulatory requirements are met, and operations are efficient.
Scope and activities typically include financial and compliance audits, IT and cybersecurity audits, and operational or
Organizationally, Auditteams are usually led by a Chief Audit Executive or equivalent, with audit managers, senior
Technology and data analytics increasingly support Auditteams through audit management software, continuous auditing, and automated testing.