Considerations for impactful Internal Audit departments
Competing in a rapidly changing world, companies must grapple with emerging challenges seemingly every day: cyber threats, emerging and potentially disruptive technologies, business performance risk and more. In this increasingly complex environment, Internal Audit has a crucial role to play to help the organization in managing risks associated with these diverse business trends.
An impactful Internal Audit function will stay current with these wide-ranging business issues as they emerge so it can help monitor related risks and their potential effects on the organization. To provide the greatest
value, Internal Audit must find opportunities to challenge the status quo to reduce risk, improve controls and identify potential efficiencies and cost benefits across the organization.
The result is KPMG Internal Audit: Top 10 Considerations for 2017, which outlines areas where Internal Audit should focus so it can effectively add value across the organization and maximize its influence on the company.
2. Culture/Soft Controls
3. Integrated Assurance
4. Regulatory compliance
5. Third party relationships
7. Emerging technologies
8. Data analytics and continuous auditing
9. Performance risk
10. Strategic alignment
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