Internal Audit Insights 2018
High-impact areas of focus
This annual publication identifies activities and risks that present opportunities for Internal Audit functions to make a strong positive impact within their organizations. We discuss opportunities including robotic process automation and cognitive intelligence, auditing digital risk, culture risk, Agile internal auditing and more.
13 high-impact areas of focus
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.
The year ahead
Clearly, the year ahead calls for a strong focus on all things digital. Of our 13 hot topics, more than half are aligned directly or closely with information technology and capabilities. Most Internal Audit groups should prioritize assurance and advisory work around uses of these technologies in the organization and ways of using them to enhance their own work. Just as customers are tending to outpace organizations in their uses of digital technologies, many stakeholders now outpace Internal Audit in similar ways.
Forward-thinking Internal Audit functions seek not only to provide assurance and advice, and to apply digital technologies to their own work, but also to anticipate issues and risks associated with those technologies. They anticipate stakeholders’ potential moves to new technologies, strategies, and business models so they can ready themselves and the organization for those moves. In this way, they assist stakeholders in some of the most challenging areas they face—new areas where risks are emerging and where new value can be created—thus increasing their impact and influence in visible and valuable ways.
For more information contact Rob de Leeuw or Olaf Helmond via the contact details given below.