High-volume transactions and complex technological interactions are forcing us to rethink how we approach internal assurance, including internal audit, risk management, and compliance.
How can your internal audit function become more strategic? By integrating emerging technologies with everyday operations to ultimately reimagine internal audit. But most internal audit and control functions are not ready for this new reality. The disconnect between the way our world now runs and the ability of internal assurance functions to conduct meaningful internal audits is reaching a crisis point.
Only 19% of those surveyed in PwC’s 2019 State of the Internal Audit Profession Study were “digitally fit” compared to their peers, and even that minority are not fully prepared for digital disruption.
“Our heavy reliance on technology, its overwhelming benefits, and its commercial success depend on trust. And that trust, in turn, requires assurance that technology is soundly designed and functioning as intended. This is where internal audit comes in.”