Amazing Technology and the Impact on Risks and Controls

[Former Member]

A couple of months ago, I wrote a couple of pieces about mobile technology:

• Mobile will bring both risks and opportunities. Is your company’s strategy optimized?
• Internal Audit Needs to Be Ready for Changes in Risks, Processes, and Controls as Business Embraces ...

 

But, technology is moving so fast I have more items to share. The first is simply amazing, while the second and third are videos that show what you can accomplish on your mobile device (phone or tablet).

• OmniTouch, a “wearable system that enables graphical, interactive, multitouch input on arbitrary, ev....
• Mobile analytics demo from SAP
• Mobile analytics demo from Oracle

   

Questions:

1. Is your organization taking advantage of the new technology to improve its products and services, the efficiency of business processes, and the quality of risk and performance information that drives business decisions?
2. Are your risk management and internal audit proactively engaged as advisors, not just to warn of the risks involved but to help pilot management past the hazards and risks to the magnificent shores of reward?
3. Do your risk management and internal audit teams understand how business processes and controls will change, and are they ready to change their traditional approaches? Are they among the leaders in embracing technology to improve their operations, or are they on the sidelines watching?