2018 State of the Internal Audit Profession Study
of IA leaders believe technology adoption impacts IA's value to the organization.
of IA leaders view missing risks as a top risk of not improving technology adoption.
of respondents are categorized as "Evolvers" who are advanced in technology adoption.
of Evolvers are considered to be providing significant value to the organization.
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.
Businesses are using emerging technologies to disrupt and innovate. Their Internal Audit functions have the opportunity to deliver the confidence and trust that allows them to truly take advantage of these disruptive technologies.
PwC's Global GRC and Internal Audit Leader Andrew McPherson talks about how the internal audit can evolve and enable future innovation.
“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.”
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.
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