The risk profiles of organizations are becoming more complex and difficult to manage. To remain relevant, internal audit has to respond to these challenges and deliver strategic insights, not just assurance.
Traditionally, internal audit functions focused on compliance and internal control systems. But to be a partner to the C-suite and board, internal audit must understand the organization’s key risks and proactively identify emerging risks.
To meet these demands, internal auditors have to start using new tools and technologies like artificial intelligence, machine learning and robotic process automation, and to make better use of data analytics to drive strategic decisions.
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