As technology evolves, the internal audit department at Mayo Clinic is working hard to stay ahead of the risk curve, training to expand internal technology and data analytics capabilities and supplementing with outside SMEs. And, in addition to the traditional role of providing assessments after the fact, they are adding value by helping the organization to anticipate and plan for risks during the early stages of project planning.
It is difficult for one audit team to maintain SMEs in all risk areas—especially emerging risks. Thus, Carrie Graunke , co-vice chair of internal audit for Mayo Clinic sometimes brings in outside experts. This collaborative approach has allowed the internal audit team at Mayo Clinic to adapt quickly to emerging risks and provide scalability required, on a limited budget.