Strategic Internal Audits in IT and Procurement Functions

In the ever-evolving landscape of business operations, the importance of strategic internal audits cannot be overstated. Particularly in the IT and procurement domains, internal audits serve as a cornerstone for operational excellence and risk mitigation. Nirpendra Ajmera, a seasoned expert in internal audits and enterprise risk management, shares his perspectives on the significance and intricacies of these audits.

Ajmera, known for his extensive global experience, emphasises the dual role of IT and procurement audits. "IT audits are critical not just for ensuring data security but also for enhancing operational efficiency. They help organisations identify gaps in IT general controls, application controls, and overall cybersecurity frameworks," he explains. According to him, a well-structured IT audit framework safeguards organisations against unauthorised access and data breaches, while also ensuring compliance with regulatory standards. "These audits provide the assurance that the organisation's systems and technologies are not only functional but also aligned with strategic business objectives," Ajmera adds.

Procurement audits, Ajmera notes, are equally pivotal. "They go beyond cost-cutting. Procurement audits focus on vendor management, contract oversight, and ethical sourcing. They ensure that supply chain operations align with corporate strategies, creating a transparent and accountable procurement environment," he states. These audits also play a vital role in mitigating supply chain risks, uncovering inefficiencies, and fostering stronger supplier relationships. "Ultimately, a robust procurement audit framework enhances financial performance by enabling better negotiations and service delivery," he highlights.

Drawing from his vast experience across multiple industries—including utilities, manufacturing, telecom, and IT—Ajmera underscores the interconnectedness of IT and procurement functions. "When organisations integrate technological capabilities with procurement needs, they create opportunities for strategic growth," he says. He elaborates on how technologies such as e-procurement systems, big data analytics, and AI-driven platforms transform procurement operations. "These tools enable informed decision-making and optimise supplier sourcing strategies, making businesses more agile and responsive," he observes.

Ajmera has played a pivotal role in guiding organisations through complex audit processes, particularly for first-time Sarbanes-Oxley (SOX) filers. "My work involves enhancing internal controls over financial reporting and enterprise risk management. These are essential for ensuring that businesses not only meet compliance standards but also strengthen their governance frameworks," he remarks. His contributions to IT general controls reviews, fraud investigations, and third-party risk assessments further underscore his expertise.

One of Ajmera’s key strengths lies in his ability to mentor audit teams and develop frameworks that balance global standards with regional requirements. "Leadership in auditing is about more than technical know-how; it’s about fostering a culture of excellence and adaptability," he says. This philosophy has been evident in his work across the United States, Canada, Europe, and the Asia-Pacific, where he has managed large-scale programs and cross-regional assignments.

When asked about emerging trends, Ajmera highlights the growing importance of advanced cybersecurity frameworks and cloud computing solutions. "Audits need to evolve with technology. Ensuring that emerging technologies align with data protection and privacy compliance is critical for strategic growth," he asserts. He also points to the role of benchmarking in auditing. "A strong audit strategy not only identifies vulnerabilities but also sets benchmarks against industry standards. This helps organisations remain competitive while mitigating risks," he notes.

Ajmera’s approach to internal audits reflects his belief in their broader impact. "Audits are not just about identifying issues; they’re about driving operational improvements and fostering sustainable growth. By integrating audits with organisational goals, businesses can build a solid foundation for innovation and resilience," he concludes.

Through his insights and experience, Nirpendra Ajmera continues to shape the field of internal auditing, empowering organisations to navigate the complexities of today’s business environment with confidence and foresight.