IIA eyes risks confronting audit execs

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The Institute of Internal Auditors released a new report Monday during its international conference in Dubai about the main risks facing chief audit executives.

The report, Top Risks Faced by Chief Audit Executives, discusses the top five risks faced by chief audit executives: talent management, data analytics, cyber, regulations, and responding to disruption.

The report provides advice for audit executives as they deal with new risks, along with actions they can take and objectives they should bear in mind. It recommends executives should view their audit plans as frameworks that are bound to change as events and disruptions happen in the future.

“Risk opens the door for failure to achieve an organization’s mission and strategic objectives, and threatens an organization’s overall value,” said the report. “Therefore, internal audit’s responsibility — as a trusted advisor to assist risk management, control, and governance processes — requires the consideration of all risk opportunities and making the right recommendations.”

The report is part of the Global Perspectives and Insights series for IIA members at www.theiia.org/gpi.

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