The Role of Digitalization in SMEs’ Strategy Development: The Case of Sweden

Internal auditing and cyber security: audit role and procedural contribution

“…The regression also showed that the variable 'collaboration' is not statistically significant and therefore does not affect the security of online services. This result is inconsistent with the studies by Bauer and Estep (2018), Steinbart et al (2018), Caputo et al (2018 and Fjellström et al (2020), who argued that collaboration leads to knowledge sharing and that more violations are detected before they cause financial or other loss to the business. It is evident that similarly to findings regarding 'technical knowledge', auditors perceive cyber auditing as a separate field from their line of work.…”

“…Cross-functional innovation demonstrates significant contribution to business due to ongoing diversities based on multi factorial correlations. Furthermore, globalisation of markets makes it imperative for businesses and organisations to work in a broader scale of international proportions (Fjellström et al, 2020). Without carefully implemented technological innovative strategies, businesses are unable to fully exploit the diverse cross-functional innovation perspectives for proactive planning.…”

“…Without carefully implemented technological innovative strategies, businesses are unable to fully exploit the diverse cross-functional innovation perspectives for proactive planning. Fjellström et al (2020) develop strategic innovation management insights, based on diverse business function-specific cases and proposed an integrated cross-functional model of strategic innovation management. Even earlier than that, Merhout and Havelka (2008) showed that one of the factors affecting the quality of audits is the simultaneous cooperation between the different departments of the firm, the audited department and top management, as it allows for a better flow of information.…”

“…For example with the increased utilisation of digitalisation, various markets changed their operations to include technologies and online channels previously considered only as a possible future cost. These digital innovations became dominant disrupting industries and important strategic issues in the wider effort to better perform in global markets by meeting customer needs and reaching out to them 'faster at minimum expense' (Fjellström et al, 2020). Richards et al (2005) argued that internal auditors should have basic technological knowledge, i.e., software, operating system and networking knowledge, knowledge of safety and risk protection and knowledge of the use of information systems necessary to fulfil their role.…”

“…Today, stakeholders, if versed in their respective fields and capable of applying specialised knowledge, could be part of a company's possible strategies for improved performance (Caputo et al, 2018) and information can facilitate such processes and management efforts through proper communication strategies. Thusly, stakeholders' knowledge and successful information sharing policies can develop swift and competitive strategies (Giacomarra et al, 2019;Fjellström et al. 2020).…”