Part 2 - Artificial intelligence in Internal Audit: Example prompts

Quick tips: To keep the formatting, it’s best to copy and paste from CoPilot and manually put it into a Word document instead of exporting it directly into Word if you want to keep the formatting.

Annual Planning

• Construct a timeline and milestone plan for managing audits across multiple departments or locations. Incorporate deadlines, roles, and communication strategies to ensure a smooth audit process: [INSERT the number of departments/locations and include detailed information]

• Evaluate audit data and performance metrics to detect patterns, irregularities, and areas for enhancement. Produce actionable insights and suggestions for refining future audit coordination processes: [INSERT the audit data and relevant metrics]

Audit Planning

• As an Internal Audit Manager write a Terms of Reference to review [INSERT audit topic], these Terms of Reference will be sent to the Senior Leadership team for endorsement, including the audit background, and objective and the areas that will be assessed over [XYZ].

• Create an agenda based on the Terms of Reference, what questions would Internal Audit ask the Business in a Planning meeting?

• Example: If I were audit planning, what questions would you ask the CTO about strategic concerns about technology transformations and the impact of transitioning away from legacy systems and technology debt?

• Create a comprehensive checklist outlining the essential steps and requirements for organising audits in accordance with industry standards and regulations. Include recommended practices for effective audit management and compliance:
  [INSERT audit details]

Fieldwork

• Write a meeting agenda, where Internal Audit is preparing for fieldwork discussion to walk through the following topic [XYZ].

• Create a status update email template, covering the Audit delivery status, challenges/roadblocks, and preliminary observations.

• Write an Excel formula to calculate the difference (or number of days) between [XYZ] and [XYZ].

Reporting

• Write an Internal Audit issues over [XYZ] include the risks and potential recommendations.

  • Example: Write an example of an Internal Audit Issue for inadequate Benefits Management, lack of metrics and implementing measures to monitor and measure them throughout a project lifecycle