Internal audit insights
High-impact areas of focus 2018
Deloitte research and experience strongly indicates that stakeholders expect Internal Audit to be far more focused on the risks and issues of the future than on those of the past. This means shifting from auditing the past to advising on the future and to focusing on activities that present new and unfamiliar risks. Some of this will require new skills and talent models. Some demand new frameworks and interaction with new stakeholders. Failing to keep pace with the evolving organization and environment, however, puts at risk Internal Audit’s role as a relevant, engaged, and strategic player within the organization.
For that reason, our 13 high-impact areas of focus for 2018 identify activities and risks that present opportunities for Internal Audit to make a positive impact. Whether by adopting new methods, such as automating core assurance and taking an Agile approach to internal auditing, or auditing new threats, such as digital risk, a focus on these areas as they relate to your organization will heighten Internal Audit’s impact and influence. Moreover, these areas of focus will satisfy stakeholders who desperately need Internal Audit’s objectivity, skills, and advice as they tackle new challenges.Though the answers differ for each Internal Audit group, generally impact and influence increase when Internal Audit attends to areas of greatest risk, importance, and concern to key stakeholders. This year’s edition of our Internal Audit Insights series identifies eleven areas of high impact for Internal Audit in the year ahead. It also explains why these areas are important to stakeholders and how Internal Audit might approach the area in upcoming audit plans.