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Internal Audit Insights 2014
High impact areas of focus
To be truly effective, internal audit departments should ensure that their efforts are targeted at the key risks and issues facing their business - a task made more difficult in an environment of increasing complexity, uncertainty and change.
Read more in our publication about the ten high-impact areas we believe internal audit departments should be incorporating into their plans.
- Internal audit analytics: To help address current risks, and drive future efficiencies.
- Risk and control culture: People are the key to consistent risk management.
- Cyber crime and security: Internal audit's role in evaluating and improving effectiveness.
- Assurance mapping: Navigating the layers of risk management control and assurance activity.
- Crisis management: Evaluating readiness and appropriateness of plans.
- Anti-bribery and anti-corruption: Independent assurance that risks are being managed to an acceptable level.
- Capital project reviews: Due to the substantial sums of money, there is rarely adequate monitoring and contractual review.
- Sustainability: Including sustainability reporting, and sustainability-related risk assessments.
- Joint venture governance: Parent companies need appropriate monitoring controls in place to govern the investment.
- Data privacy: Breaches and non-compliance can lead to significant reputational risk.