Internal audit functions at retailers are turning to technology to streamline processes, increase analytic capabilities and supplement traditional store audits with continuous monitoring and standardized store self-audits. Protiviti documented the need for more comprehensive and agile store audit coverage in a white paper, The Retail Store Audit: Using Technology to Optimize the Audit Process
. Protiviti’s 2012 study included a breakdown of retailer responses showing that store audit technology had become a top priority. Since then, Protiviti’s experience suggests that retailers not actively pursuing mobile store audit technology initiatives risk falling behind regulatory and shareholder control expectations.
This paper revisits the recommendations from the 2006 study, updating them to reflect the emergence of big data analytics, cloud connectivity, and smartphone and tablet technology.