The near-term challenge of the IA function will primarily be to continue to provide safe oversight while also adapting to the dynamic risk landscape. The IA function must thus be able to deal with the increasing number of emerging risks.
The article „Building the internal-audit function of the future“ by McKinsey addresses the challenges of auditing and identifies the issues that will play a role in the future.
For example, new and more serious risks are emerging in the area of information security. At the same time, new technologies and greater automation in internal auditing are enabling faster audit cycles and more timely reporting.
To read the article and learn more about the future of internal auditing, click here.