Virtual Reality Check: Managing the Internet of Things

The Protiviti View

Last year, at SAP’s giant Sapphire Now user conference in Orlando, the Internet of Things (IoT) was a hot topic. Don’t feel bad if you haven’t heard that term or have trouble distinguishing the IoT from the regular old Internet. New tech terms are proliferating as fast as, well… things on the Internet do.

Here’s the scoop. The regular old Internet connects people electronically, using computers or portable devices. The IoT is things connecting electronically to people, or other things. (Check out this terrific Internet of Things graphic.) We’re talking sensor data here – your electronic water meter, home monitoring devices, smart appliances, navigation apps, Fitbits, as well as industrial controls, robotic sensors, inventory control tags, and other industrial technology – all of which are transforming how we live and work. The interconnection of these embedded devices is expected to usher in a new era of automation, smart objects…

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Emerging Trends in Financial Services IA Analytics: A Benchmarking Study Overview

The Protiviti View

Barbi GoldsteinBy Barbi Goldstein
Managing Director, Protiviti’s Internal Audit & Financial Advisory practice

For decades, internal audit (IA) departments at financial services industry (FSI) organizations have relied on data analytics to support their work. With the growing availability of data, the value of this practice has increased significantly. Increasingly, IA departments are looking to develop forward-looking analytics capability rather than just scrutinizing data in support of individual audits. To achieve this goal, IA functions inside the largest FSI companies are striving to operate independently, access data when and where they need it, and conduct their own analysis, rather than rely on the business units that generate the data.

The demand for enhanced analytics capabilities is being driven by a variety of factors, most notably IA’s growing role in supporting regulatory compliance needs and monitoring, and intensifying pressure to gain better insights for improved risk management. The organizations’ reliance on big data and big…

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Internal Auditing Around the World – Insights From This Year’s Edition

The Protiviti View

Brian Christensen - Protiviti PHX 2012_Low ResBy Brian Christensen
Leader of Protiviti’s Internal Audit and Financial Advisory practice

Now, more than at any time in history, internal auditors are viewed by audit committees and management less as police and more as trusted advisers, strategic partners and consultants. Partly due to the fallout from the 2008 financial crisis, the position is valued more than ever before. Management now looks to leverage internal audit as a strategic resource, recognizing that internal auditors’ broad and deep perspective of operations, risks and potential opportunities can help inform business decision-making.

In its latest edition of the annual Internal Auditing Around the World, Protiviti takes a look at the state of global internal audit practice. We find that many internal audit departments, along with their organizations, are in the midst of significant change and transformation – a period of reinvention. Internal audit teams are rising to the call to become strategic…

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