The Internal Audit Agenda
10 November 2022
“The role of Internal Audit continues to be recognized as a fundamental part of enabling and embedding good governance. As the risk landscape changes, and becomes more complex, and with increasing regulation, many organizations are looking to Internal Audits to provide 'assurance' and advice as 'risk and control experts. This role has evolved over the past five years, increasing to one in an advisory capacity – both protecting and creating value in the business.
Internal Audit has an opportunity to be a leader in this assurance agenda. We are in a privileged position to look across the risk landscape of an organization and advise on the 'what', 'where', 'when', and 'how' of assurance needs. As the role of the 'second-line compliance functions grow, on the back of topics such as Protection of Personal Data Protection (“PDPL”, ESG, and risk, ensuring that you have the right balance of assurance across the organization will be critical.
Internal Audit teams will be thinking carefully about where they can best contribute to managing risk and supporting the success of their organizations. This document sets out some of the key areas that Internal Audit should be considering when thinking about that wider assurance landscape.”