Moving at the speed of innovation

2018 State of the Internal Audit Profession Study

Does your internal audit function have the talent and tools to help your organisation address a risk landscape inundated with change from emerging technology?

Does your internal audit function have the talent and tools to help your organization address a risk landscape inundated with change from emerging technology?

New technologies are changing the way we do business and making new things possible, creating new products and services, markets and organizations. For internal audit to continue to deliver value, it needs to understand the impact of these technology innovations on their organizations. Boards and Executives 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.

Highlights

  • 85% of Evolvers focus on technology enablement as part of their strategic plans.

  • 56% of respondents agree that failing to improve Internal Audit’s technology adoption will diminish their value to their organization.

  • Evolvers are rated as more valuable to an organization - 75% of them are contributing significant value vs 54% of followers.

“The real pitfall for Internal Audit is if they don’t stay current on new technologies then they won’t have a seat at the table and be perceived to be adding value; they need to stay current (not be experts) to stay relevant.”

Alvin BledsoeAudit Committee Chair, SunCoke Energy

Fusing talent and technology

Organizations that are more advanced in their adoption of technology are also simultaneously considering its impact on their talent model. Availability of talent is driving technology decisions and vice versa. Different skills may be required to bring new technologies into everyday operations.

Strategies for effective technology adoption

Contact us

David Toh

David Toh

Governance Risk Compliance & Internal Audit Leader, PwC Singapore

Tel: +65 9735 0156

Julia Leong

Julia Leong

Partner, PwC Singapore

Tel: +65 9756 2123

Yong Jiunn Siong

Yong Jiunn Siong

Partner, PwC Singapore

Tel: +65 9753 6103

Francis Wan

Francis Wan

Partner, PwC Singapore

Tel: +65 9677 7219

Ng Siew Quan

Ng Siew Quan

Partner, PwC Singapore

Tel: +65 9726 9880

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