Our largest study ever
The insights for Internal Audit (IA) in Vietnam are extracted from PwC Global Internal Audit Study 2023.
For more than a decade, PwC has conducted global surveys with IA leaders and their stakeholders. Our 2023 survey was our largest ever. It captured views from 4,680 IA leaders (41%), board members and executives in the business (37%), and second line risk (11%) and compliance (11%) leaders. It covered 81 countries across a wide range of industries.
How this study can help you
Our IA studies have helped to capture new ideas, stimulate debate, and unlock new opportunities for IA functions to evolve, add value, and remain relevant. The insights shared in this report can help not just IA leaders, but those who rely on IA’s ‘superpowers’ to give them confidence, and help see risk differently.
IA Leaders
- Update or create your IA strategy
- Support case for investment and change initiatives
- Have different conversations with stakeholders on new risks or topics
- Identify ways to achieve better return on investment (RoI) from technology
- Train your IA team and plan your talent strategy
Board and Business Executives
- Generate ideas to maximise the value you get from IA
- Identify blind spots or strategic areas where you may need assurance
- Increase collaboration between first, second, and third line to increase efficiency and effectiveness
- Have different conversations with IA on new risks or topics
Second Line Leaders (Risk, Compliance, etc.)
- Challenge risk coverage based on new or emerging threats
- Identify strategies for collaboration with IA
- Consider data and technology that could be shared or co-developed
- Brief your team on new IA trends and identify opportunities for cooperation in talent models
Key findings
Megatrends are creating a complex and interconnected risk multiverse
Why this is new
- Recent megatrends are creating risks in new areas that are unprecedented in scale and complexity
What this means for IA
- IA is uniquely positioned to give the organisation confidence to navigate these challenges and find a new direction—and new opportunities
IA needs more involvement in strategic areas to remain relevant
Why this is new
- Driven by increased complexity and higher stakes, business executives are opening the door for IA to help them address more strategic areas
What this means for IA
- IA can choose to engage differently with its stakeholders to provide new strategic value, or risk becoming irrelevant
IA can be a unifying force
Why this is new
- First and second line have ‘levelled up’ their capabilities and response to risk
What this means for IA
- IA can help combine expertise across the organisation to harness momentum and forge something stronger together
IA’s human ‘superpowers’ are more important than ever
Why this is new
- Technology has become exponentially more sophisticated, providing organisations with access to more data and opportunities than ever before
What this means for IA
- IA must continue to evolve its human capabilities to ensure it can turn data into decisions, build new relationships, and help others to see risk differently
IA can boost RoI by changing its approach to technology
Why this is new
- Technology investment in recent years has not yielded the returns many have expected and the next wave of technology is already here
What this means for IA
- IA needs to recalibrate its approach and work with others to unlock the potential of technology; but the window is closing fast
Explore how to level up actions with IA
Global Internal Audit Study 2023: Vietnam cut
Get in touch
Pho Duc Giang, CISSP, CISA
Director, Data Trust and Cybersecurity Services, PwC Vietnam Cybersecurity Services Company
Tel: +84 28 3823 0796
