Cyber risk and the role of the chief audit executive

Reinventing the role of the chief audit executive

It is estimated that worldwide cybercrime costs will hit $10.5 trillion annually by 2025. Cyber criminals can steal data and assets any time and create a costly impact on corporate reputations and bottom lines. And with enforcement agencies unable to keep pace with attacks, organizations are increasingly forced to bolster their defenses. In recent years, boards and CEOs have begun turning to internal audit—as well as the CIO and CISO—to provide an objective point of view on cyber readiness, response, and risk mitigation.

Our report explores how the role of the chief audit executive is changing and how chief audit executives are reinventing themselves and their teams to focus on rising cyber risks—including threats from ransomware, phishing attacks, and data breaches. Insights in this report will show how they are seizing a once-in-a-generation opportunity to make a splash as front-line cybersecurity guardians and trusted advisers to senior leaders, audit committees, and boards of directors.

Growing stronger against risks, every day

Many CEOs have long viewed CAEs as Monday-morning quarterbacks, weighing in only after the action. But in a time of pervasive cyber threats, CAEs are filling a vital role that often exceeds their traditional job descriptions. To rise to the occasion, they are upping their game by educating themselves and building stronger teams more prepared to address cybersecurity issues. Explore more in our report and learn how CAEs are providing the right perspectives and expanding their roles with real-life examples.