2018 AuditNet® Internal Audit and Disruptive Technology Survey
Published June 23, 2018 08:42
Rapidly changing technology is disrupting business on a massive scale: big data, cloud computing, virtual supply chains, artificial intelligence, existential dependence on connectivity.
Does your internal audit function have the talent pool and tools to help your organization address a risk landscape inundated with change from emerging technology?
New technologies are changing the way business operates and makes new things possible, creating new products and services, markets and organizations. For internal audit to continue as a value added component, it needs to understand the impact of technology innovations on their organizations. Boards and senior management expect internal audit functions to have a point of view on new technologies and to be able to provide advice on how the organization should embrace them while managing the risks and implementing strong controls.
According to the PwC 2018 State of the Internal Audit Profession Study there are 3 categories of internal audit functions:
Evolvers – audit functions advanced in their technology adoption
Followers – audit functions taking notice and following the evolvers technology adoption
Observers – audit functions constrained by lack of technology, held back by poor data quality, insufficient resources or cultural impediments. (Basic or no technology use).
Where does your Internal Audit function fall in the above?
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