Internal Audit 3.0
Until recently, the Internal Audit profession had not faced the need to innovate, let alone reinvent itself. Now, as we approach the end of a decade of uncertainty, organizations face evolving strategic, reputational, operational, financial, regulatory, and cyber risks. The world is entering the fourth industrial revolution where new technologies, digitalization, robotics, and artificial intelligence are dramatically changing the business landscape.
Through consultation with audit committee chairs, executives, chief audit executives and business leaders, we have developed a blueprint which aims to clarify the expectations of Internal Audit and required enablers to meet these, codifying the most important elements. We call it Internal Audit 3.0, the next generation of Internal Audit.
This publication introduces our point of view on Internal Audit 3.0 and outlines selected aspects of the 3.0 blueprint, depicted below.
Assure. Advise. Anticipate
These three – assure, advise, and anticipate – constitute the triad of value that Internal Audit stakeholders now want and need.
