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Analysis

2016 Global Chief Audit Executive (CAE) Survey

Internal audit at a crossroads

“Evolution or irrelevance,” Deloitte’s 2016 Global Chief Audit Executive Survey, provides insights on the current and near-term challenges facing the internal audit function. With responses from more than 1,200 chief audit executives in 29 countries and a wide range of industries, this is Deloitte’s most comprehensive global examination of internal audit to date.

Internal audit at a crossroads

In this report, you will find: 

Current views and future expectations
In this internal audit survey, chief audit executives (CAEs) provide their views on their groups’ capabilities, impact, influence, and stakeholder expectations—currently and over the next three to five years.

Gaps to close and challenges to address
Areas in which internal audit groups need to upgrade skills and tools to meet stakeholders’ expectations include IT, data analytics, model risk, innovation, and fraud prevention and detection.

Specific plans and actions
To enhance their performance, value, impact, and influence, internal audit groups will expand advisory services, improve analytics skills and tools, evaluate strategic planning and risk management, and use visualization tools in reporting.

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Key findings from the Chief Audit Executive Survey

  • 1,203 respondents, 29 countries, eight industry sectors, across a range of company sizes, internal audit budgets, and internal audit hours
  • Almost all chief audit executives expect their organizations and their functions to change substantially in the next few years.
  • Internal audit currently lacks the impact and influence that it wants and needs within the organization.
  • Key gaps in certain skills, including analytics, IT, and communications must be addressed in order to increase impact and influence.
  • Stakeholders’ expect more forward-looking reports as well as insights regarding risks, strategic planning, IT, and business performance.
  • Almost all internal audit budgets will remain flat or increase slightly, which may not be enough to fund needed enhancements to the function.

To address these challenges, internal audit should consider embedding analytics fully into the internal audit lifecycle, streamlining reports, acquiring analytics capabilities, and leveraging alternative resourcing strategies.

Industry insights: Financial services global survey results

We conducted a deep dive into the survey results from CAEs of financial services organizations. Explore the common themes that surfaced within the financial services industry.

Internal audit survey reveals major challenges for chief audit executives

Deloitte Global Internal Audit leader Terry Hatherell reviews internal audit’s need to heighten its impact, influence, and skills.

Opportunities for analytics within internal audit

Deloitte Global Internal Audit Analytics leader Neil White notes skyrocketing use of analytics in internal audit and the advantages to be gained

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