Value-driven disruptive digital strategies, business models, skills, and technologies are transforming organizations of all sizes, sectors, and geographies. Digital disruption is also stressing organizational governance. Internal audit (IA) functions are uniquely positioned to contribute to digital innovation, transformation, and governance through assurance and advisory services.
To do so, however, IA needs to be invited to a seat at the table and be heard at the highest levels of the organization at the outset and throughout the digital innovation and transformation journey—to share its perspective; contribute to decisions; effect change; and consider the impact on the nature, timing, and extent of assurance and advisory services. This article explores variables that may enable or constrain IA’s seat at the digital innovation and transformation table.
Digital Disruption, Innovation, and Transformation
A Fourth Industrial Revolution is underway globally, driven by the rapid, wide-scale deployment of digital technologies such as artificial intelligence (AI) and cloud computing. According to the World Economic Forum, “As the global economy rapidly digitalizes, an estimated 70% of new…
