Client Introduction
A large US bank with a mature internal audit function identifying risk-based annual plan areas to meet audit universe under dynamic regulatory standards. The Chief Audit Executive reported internally to the Audit Committee and operated under the IIA's standards.
Problem Statement
The bank's internal audit function set out to expand assurance coverage while holding capacity flat. With sample-based testing, high-risk processes covering vast audit universe were reviewed outside time constraints, resulting in inconsistent assurance and increased operational risk.
01
Expanding the audit universe and meeting rising supervisory expectations within a flat capacity envelope
02
Expanding the audit universe and meeting rising supervisory expectations within a flat capacity envelope
03
Expanding the audit universe and meeting rising supervisory expectations within a flat capacity envelope
04
Expanding the audit universe and meeting rising supervisory expectations within a flat capacity envelope
05
Expanding the audit universe and meeting rising supervisory expectations within a flat capacity envelope
Our Approach
ANA was introduced as an assurance layer that sped up engagement execution and pushed coverage well beyond sampling, with internal audit keeping full independence, professional skepticism, and ownership of every conclusion.
On selected high-risk processes, ANA moved testing from samples to full-population analysis, freeing senior auditors to focus on judgment, emerging risk, and conclusions.
Accelerated fieldwork
Accelerated fieldwork (walkthroughs, evidence collection, and evidence evaluation) across the annual plan
Replaced
Sampling
Replaced sampling with full-population testing on selected high-risk processes
2024 Global Internal Audit Standard
Standardized workpapers and engagement conclusions to the 2024 Global Internal Audit Standards
Documented annual risk assessment
Produced a documented annual risk assessment and an assurance map coordinating coverage with the second line
Reconstructable reasoning trail
Captured a consistent, reconstructable reasoning trail behind every engagement conclusion
Audit-committee-ready reporting
Delivered audit-committee-ready reporting on coverage, findings, and residual risk
Business Outcomes
25-40%
Faster Audit Cycles
Faster audit cycles on in-scope engagements.
Full-Population
Testing Coverage
Coverage on high-risk processes beyond limits of sampling.
100%
Audit Plan Delivered
Senior audit time redirected to risk-based review.
More Time for
Risk-Focused Auditing
Greater alignment with audit standards and assurance goals.
See ANA in Action
See what ANA can do in your control environment. Built for regulated enterprises, and run entirely inside your own environment.
