Elevating Internal Audit’s Role: The digitally fit function

2019 State of the Internal Audit Profession Study

Upskill and inject new talent to move at the speed of the organisation

Find the right fit for emerging technologies

Enable the organisation to act on risks in real time

Six habits of dynamic Internal Audit functions

Our 2019 State of the Internal Audit Profession Study, identified six habits that lead to more digitally-fit risk functions.  As organisations go through digital transformations, these habits help drive effective internal audit and overall risk management performance. Three of these habits in particular give internal audit more dexterity to move all six habits forward.

1.

Go all-in on the organisation’s digital plan

2.

Upskill and inject new talent to move at the speed of the organisation

Find the right fit for emerging technologies

Enable the organisation to act on risks in real time

Actively engage decision makers of key digital innovations

Collaborate and align to present a consolidated view of risks

Organisations are rapidly rolling out digital initiatives in an arena defined by more data, more automation, sophisticated cyber-attacks, and constantly evolving customer expectations. In some ways – for internal audit functions – the situation is not new: technology risks and controls have already been on their agendas for decades and most can reliably deliver a technology audit.

But digital rollouts heighten risks beyond the technology itself. Our 2019 Global State of the Internal Audit Profession Study shows that as organisations move through digital transformation, internal audit functions that are more digitally fit more effectively help their stakeholders become smarter risk takers in the face of changing risk profiles.

The 2019 State of the Internal Audit Profession Study forms part of a trilogy of reports based on our global survey of 2,000 Risk, Internal Audit and Compliance professionals and can be accessed via the related content below.

Contact us

Jill Emney

UK Internal Audit Services Leader, PwC United Kingdom

Tel: +44 (0)7850 515690

Geraldine Rutter

Regions Internal Audit Commercial Sector Leader, PwC United Kingdom

Tel: +44 (0) 121 265 5111

Gill Williams

Partner, Technology Risk, UK Tech Audit Leader, PwC United Kingdom

Tel: +44 (0)7887 833632

Steve Frizzell

Partner, Internal Audit Financial Services Leader, PwC United Kingdom

Tel: +44 (0)7802 659053

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