IIA’s Global Perspectives and Insights Highlights Need for Agility and Innovation
From Mindsets and Appetites to Talent and Technology
If internal auditors are to remain relevant and add real value to their organizations, their speed, flexibility, and proactive approach to problem solving must be optimized. The newest report in the IIA’s Global Perspectives and Insights series, “Agility and Innovation,” defines what it means to be agile and innovative in today’s marketplace and how the two are interdependent.
The report tackles the issue from multiple fronts, discussing everything from the shift in mindset to the mix of talent and technology that is necessary to get the job done. It explores feedback from chief audit executives (CAEs) about what they see as internal audit’s current and emerging role and what it will take to bridge the gap. It hits on key areas that are critical for internal audit functions to master — such as strong data management and data analytics — and discusses areas where artificial intelligence and process automation can be leveraged to allow practitioners to spend their time on more value-added activities.
The report acknowledges that while developing an agile and innovative internal audit function is not easy, there is no other choice, noting, “The path toward agility and innovation may be challenging, with pitfalls, dead ends, and false starts blocking the road ahead. Regardless, the alternative to an agile, innovative audit function is one that remains slow and traditional — and that function just won’t last in the world that’s coming.” To assist internal auditors with getting on the path to agility and innovation, the report concludes with five steps they can take now to put the wheels in motion.
The IIA partners with IIA Affiliates in more than 170 countries and territories to fulfill its mission to advance the internal audit profession and serve its more than 190,000 members globally. IIA Affiliates serve as The IIA’s exclusive representatives to collectively carry the voice of the internal audit profession, promoting high standards of ethics and professional practice in their internal audit communities.
The report is available at www.theiia.org/gpi.