The article ‘A new world of risk in internal audit’ highlights the transformative challenges facing internal audit professionals as they navigate increasingly complex risk landscapes. Traditional audit approaches must evolve to address emerging threats from cybersecurity, regulatory changes, geopolitical uncertainties, and technological disruptions. According to the Institute of Internal Auditors (IIA), modern internal audit functions must develop more sophisticated risk assessment methodologies that incorporate continuous monitoring of the external environment while maintaining alignment with organizational strategic objectives.
For risk managers and governance professionals, this evolution underscores the critical importance of integrating internal audit insights into comprehensive enterprise risk management frameworks. The COSO Enterprise Risk Management framework emphasizes the interconnected nature of risks across organizations, demonstrating how internal audit can provide valuable independent assurance on risk management effectiveness. As organizations adopt advanced technologies and face new regulatory requirements, internal auditors must develop specialized competencies in evaluating algorithmic risks, data governance, and digital transformation initiatives while upholding traditional oversight responsibilities.
References:
🔗 https://news.google.com/rss/articles/CBMigwFBVV95cUxPeUlJdVRubW41bUNhSnRnek9CNkRmcUVNTkNzaEI0dUx5TzlXMVJNUy10TkdkbzVQb2NUMFc4YzR6MGM1ZTk4ZDR6eHhZbU5GbnF5NmZTUGc0Q3Y0RTJTbGhGOUxFVjJWS0kwb2ZuV3llSHF3VXoxYjZaSnZqSlFWaVpmMA?oc=5
🔗 https://www.theiia.org/
🔗 https://www.coso.org/Pages/default.aspx
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