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Internal audit budgets have grown steadily, yet one in four audit functions still feel their funding is insufficient to meet the growing demands on their teams.
Clear, relevant, and frequent communication between internal audit, the Audit Committee, and the Board is critical to driving organizational transformation, and delivering actionable information.
Collaborating with second line assurance functions, internal audit can help organizations achieve a more complete picture of ESG risks and controls required for effective decision-making and reporting.
Auditing remotely can be just as effective as more traditional face-to-face methods, and for some, the outcome is even better. The long-term impact of remote auditing can be substantial, particularly when we consider reducing travel costs and our carbon footprint from commuting and traveling.
Widening Risk Exposure Gap Demands Internal Audit Transformation. Organizational capacity to manage risk is not keeping pace with today’s chaotic risk environment, creating a growing gap between risk management capacity and the fast evolving landscape of risk demands.
In a volatile landscape, addressing the complexities of environmental, social, and governance (ESG) issues in supply chain management is critical. Companies that fail to address these risks can face legal damage, supply chain disruptions, reputational damage, and more.
The Internal Audit Foundation’s inaugural Risk in Focus 2024: North America report, sponsored by AuditBoard, provides practical, data-driven research to help internal auditors and their stakeholders understand this evolving risk environment and prepare audit plans for the year ahead.
This year’s survey reveals a heightened focus on managing cybersecurity threats and implementing protective measures and concerns around artificial intelligence (AI) capabilities.
How are internal auditors supporting their organizations in navigating today’s economic uncertainty? That’s what the Chartered Institute of Internal Auditors and AuditBoard set out to reveal in Adapting to Economic Uncertainty: Internal Audit’s Journey, where they researched and analyzed the experiences of 100+ internal audit executives across the UK and Ireland.
Two-thirds of respondents to AuditBoard’s ESG Maturity Benchmarking survey have not implemented ESG controls — which opens organizations up to reputational damage from reporting incomplete or incorrect ESG data and leaves them unprepared to maintain compliance with the upcoming SEC ESG rules and other future reporting requirements.
Environmental, social, and governance (ESG) investing has become a strategic imperative for organizations. As with any risk, internal audit teams must ensure that third-party vendors align with their ESG goals. Download the report to learn more.