Rethinking internal audit

In an ever-evolving business landscape, organisations face challenges ranging from technological disruptions, new regulatory requirements, and emerging risks, amongst others. Corporate functions such as internal audit are also finding themselves under increasing pressure to provide value-added insights in their role as a business partner to the organisation.

What are the key issues? 200 respondents from a range of stakeholders share their thoughts in a survey on their business expectations, talent pool, technology, and other matters.

Some interesting findings

93% agree that stakeholder expectations on internal audit have increased significantly during the last few years.
Nearly half (46%) felt that the internal audit function has not been allocated sufficient investments and financial resources to recruit the right talent and capabilities.
Less than half (41%) thought that audit technology has been used optimally in their organisation’s internal audit work.

The report identifies steps that businesses can take in rethinking the value proposition of internal audit to help organisations achieve their goals.

An internal audit survey in collaboration with The Institute of Internal Auditors Malaysia