In an era of rapid digital transformation, compliance and operational processes are critically evolving. This study focuses on a Global MedTech Company (GMC), listed on the Tokyo Stock Exchange and operating in over 40 countries, which faces the challenge of integrating statutory audits and compliance with the Japanese Financial Instruments and Exchange Law (J-SOX) into its digital framework. Faced with a global shortage of IT talent and increasing audit complexities, GMC has implemented strategic interventions to streamline its IT audit processes. These interventions include consolidating audit requirements, developing a standardized Risk Control Matrix, automating document requests, and deploying real-time dashboards for audit monitoring. Utilizing qualitative interviews with key IT stakeholders, this study explores the initial challenges and subsequent improvements in operational continuity, compliance, and resource management. The results highlight the transformative impact of these interventions, not only enhancing compliance and operational efficiency but also bolstering strategic resilience. This research offers pivotal insights for organizations navigating similar transformations, emphasizing the critical role of structured interventions in modern IT audit environments.
Deloitte. (2020). AI Enablement on the Way to Smart Manufacturing Deloitte Survey on AI Adoption in Manufacturing. (2020). Deloitte. https://www2.deloitte.com/content/dam/Deloitte/cn/Documents/cip/deloitte-cn-cip-ai-manufacturing-application-survey-en-200116.pdf
Alcácer, V., & Cruz-Machado, V. (2019). Scanning the Industry 4.0: A Literature Review on Technologies for Manufacturing Systems. Engineering Science and Technology, an International Journal, 22(3), 899–919. sciencedirect. https://doi.org/10.1016/j.jestch.2019.01.006
Boul, P.-M., & Bouaissi, K. (2023). Revised ISA 315 and IT risks: how to reduce the additional workload it creates on the alternative industry? EY. https://www.ey.com/en_lu/assurance/revised-isa-315-and-it-risks--how-to-reduce-the-additional-workl
Chen, B., Wan, J., Shu, L., Li, P., Mukherjee, M., & Yin, B. (2018). Smart Factory of Industry 4.0: Key Technologies, Application Case, and Challenges. IEEE Access, 6, 6505–6519. https://doi.org/10.1109/ACCESS.2017.2783682
Dedehayir, O., Ortt, J. R., & Seppänen, M. (2017). Disruptive change and the reconfiguration of innovation ecosystems. Journal of Technology Management & Innovation, 12(3), 9–21. https://doi.org/10.4067/s0718-27242017000300002
Feliciano-Cestero, M. M., Ameen, N., Kotabe, M., Paul, J., & Signoret, M. (2023). Is digital transformation threatened? A systematic literature review of the factors influencing firms’ digital transformation and internationalization. Journal of Business Research, 157, 113546.https://doi.org/10.1016/j.jbusres.2022.113546
Guirguis, K. (2020). From Big Data to Big Performance – Exploring the Potential of Big Data for Enhancing Public Organizations’ Performance. A Systematic Literature Review. Swiss Yearbook of Administrative Sciences, 11(1), 55–65. https://doi.org/10.5334/ssas.140
Kempeneer, S., & Heylen, F. (2023). Virtual state, where are you? A literature review, framework and agenda for failed digital transformation. Big Data & Society, 10(1), 205395172311605. https://doi.org/10.1177/20539517231160528
Kitchin, R. (2014). Big Data, new epistemologies and paradigm shifts. Big Data & Society, 1(1). https://doi.org/10.1177/2053951714528481
Löfgren, K., & Webster, C. W. R. (2020). The value of Big Data in government: The case of “smart cities.” Big Data & Society, 7(1), 205395172091277. https://doi.org/10.1177/2053951720912775
Mergel, I., Edelmann, N., & Haug, N. (2019). Defining digital transformation: Results from expert interviews. Government Information Quarterly, 36(4), 101385.https://www.sciencedirect.com/science/article/pii/S0740624X18304131
Pudelko, M., & Harzing, A.-W. (2007). Country-of-origin, localization, or Dominance effect? an Empirical Investigation of HRM Practices in Foreign Subsidiaries. Human Resource Management, 46(4), 535–559. https://doi.org/10.1002/hrm.20181
Queiroz, M. M., Fosso Wamba, S., Machado, M. C., & Telles, R. (2020). Smart production systems drivers for business process management improvement. Business Process Management Journal. https://doi.org/10.1108/bpmj-03-2019-0134
Statista. (2022, November 14). Global digital transformation spending 2023. Statista; www.statista.com. https://www.statista.com/statistics/870924/worldwide-digital-transformation-market-size/
Wu, J., Qu, X., Sheng, L., & Chu, W. (2024). Uncovering the dynamics of enterprises digital transformation research: A comparative review on literature before and after the COVID-19 pandemic. Heliyon, e26986–e26986. https://doi.org/10.1016/j.heliyon.2024.e26986
Shimada, Y. (2023). The first major revision in 15 years: Preparations for J-SOX. Nikkei Computer, 1103, 44–49. https://cir.nii.ac.jp/crid/1520579001552454144
Qingxia, Y., Hussin, N., Huei, T. W., Hong, G., Jian, T. N., & Jiun, D. Y. (2024). Strategic Interventions in it Department to Enhance Handling of it Audit Requests for a Global Medtech Company. International Journal of Academic Research in Business and Social Sciences, 14(11), 3070–3078.
Copyright: © 2024 The Author(s)
Published by Knowledge Words Publications (www.kwpublications.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode
