Partner - EMEIA Internal Audit Leader
Martin Wiedemann is a Partner at EY Stuttgart, Germany with a long-lasting experience in the area of Auditing and Advisory of local as well as international companies. He is an expert in the field of implementation, leadership and execution of Internal Audit functions as well as Internal Control Systems and Risk Management. Martin is responsible for the Internal Audit Services on EMEIA level (Europe, Middle East and India).
He has more than 28 years of work experience and he has been with EY since 1999. He also is a Certified Internal Auditor (CIA) and Certified Internal Audit Quality Assessor.
Martin established and led EY Risk Services in Qatar (2004) and CIS (2005-2008) and is now leading the EMEIA Internal Audit Practice. He leads various EY teams providing outsourcing and co-sourcing services for Internal Audit functions in automotive, chemicals, utilities and manufacturing sectors. He also was a team leader for the execution of Functional Performance Assessments of major companies in Germany, Qatar and Russia.
Meanwhile Martin is EY’s global project leader for the creation of the fully digitalized internal audit function.
Friday, 20th -11:10 a.m. to 12:00 p.m.
Concurrent session 6.4 - How to create a real Digital Internal Audit function?
Disruptive forces are causing organizations to consider transformation plays. Businesses must deal with challenges caused by the digital revolution: the move to digital processes and business models; complex regulatory oversight; proliferation of social media and disruptive new technologies that promote increased connectivity and a demand for new skills. IA has to evaluate, if the function is ready to digitalize itself, to lead the “digital journey” for the organization and to take on the challenge to deliver more comprehensive solutions?
IA needs to alter the way it operates to become better in what is done today and to become more relevant. IAs core mandate will be delivered with significantly reduced effort and headcount. At the same time a shift to become a Change Agent, Anticipative Monitor and Business Counsellor will come to play as risks and topics beyond today’s scope need to be addressed. Ultimately, this will lead to the fully digitalized IA function that is enabled by fully automatized information processing and end-to-end digitalized IA processes.
How to get there?
First, Digital Excellence must be achieved by an efficient analytics delivery and optimized operations through process standardization. A shift of the people model to the deployment of off- / near shore hubs and flexible workforce needs to be considered as well besides changes to the overall IA skill matrix. Afterwards, IA needs to continuously innovate and implement flexible audit responses to address emerging risks (e.g. based predictive and prescriptive analytics and / or through high-impact audits). All efforts will lead to a ‘digitalization’ across the traditional IA lifecycle which eventually will be disrupted, and the profession being revolutionized by itself.