Data analytics and AI are the future of internal audit and fraud investigation - Smart Business Magazine

Data analytics helps people better understand their business and see weaknesses and inefficiencies more clearly. Analytics can also increase revenue through pricing optimization or analyzing margin or costs to improve the efficiency of the manufacturing process. Many internal audit departments, however, are just getting on board with this trend. Smart Business spoke with Kirstie Tiernan, data analytics managing director for BDO, Chicago at BDO USA, LLP, about data analytics, especially as it relates to internal audit and why artificial intelligence (AI) adds even more value. How are employers developing programs around data analytics? Data analytics requires people, tools, infrastructure and IT, and it's an involved investment.