IT internal audit: Risks and resources | KPMG | UK

IT internal audit: Multiplying risks and scarce resources

IT internal audit: Risks and resources

This report provides an assessment and outlines the risks facing IT internal audit globally, as well as identifying the critical contribution ITIA can make to businesses.

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IT Internal Audit: multiplying risks and scarce resources - people sitting on a table

It is a critical time for IT and internal audit. Professionals must ensure systems are robust enough to withstand a hacking incident as well as ensure they do not fall found of incoming legislation, General Data Protection Regulation (GDPR); failure of which incurs hefty fines. IT Internal Audit (ITIA) must keep abreast, and if possible anticipate fast-moving developments in technology.

To find out how ITIA is responding to these challenges and more, KPMG surveyed ITIA representatives of 250 organisations, both large and small, that operate globally and across a wide range of industries. 

Based on our analysis of the survey results, the main findings include: 

  • 51% of respondents say their ITIA budgets will not rise. If budgets are not, at least, maintained, there is a danger that ITIA will not be able to perform its assigned job;
  • The rise of robotics and how the use of the Internet of Things (IoT) will alter the way ITIA responds to emerging risks; 
  • 41% of respondents say they currently are focusing on core operation risks with emerging areas of risks (such as robotics and IoT) recieving less attention at 29%. However, this is expected to change significantly in 2018: 63% say emerging risks will be the main risk focus while core operations will fall to only 15%;
  • ITIA requires more skilled resources to increase the use of new tools and technologies to combat fast-changing risks; and 
  • Organisations continually lack an integrated approach to assurance.

You can read the full report, IT Internal Audit Survey 2017: Multiplying risks amid scarce resources.

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