[Dropcap]The rapid growth and adoption of generative AI (GenAI) has resulted in a scramble to provide internal audit coverage over potential risks arising from use of the technology, according to a survey by Gartner. Gartner surveyed 102 chief audit executives (CAEs) to rate the importance of providing assurance over 35 Read More
In recent times it seems that a corporate scandal is now an everyday occurrence and something which is far too frequent. The causes of a corporate scandal are also far too predictable: failures in corporate governance, poor risk management, compliance failures, unreliable intelligence, inadequate security, insufficient resilience, ineffective controls, and Read More
A new survey is taking a look into the future to consider what the top risks may look like in 2034. The survey, conducted by Protiviti, finds that cybersecurity and risks from emerging technology are likely to still be at the center of risk management efforts in the next decade. Read More
A new study finds that internal audit teams may be dedicating too few resources to some of the top risks that organizations face and that the misalignment is likely to continue into the future. The report, 2024 Focus on the Future, conducted by AuditBoard, a provider of cloud-based platforms for Read More
GUEST BLOG POST: I am a huge believer, as are most leading internal audit practitioners, in enterprise risk-based auditing. That means that the audit plan is designed to provide assurance, advice, and insight on the more significant sources of risk to the organization and the achievement of its objectives. It Read More
In today’s lightning-fast business environment, the ability to effectively manage risks on the fly is crucial for the long-term success and sustainability of any company. Traditionally, companies have relied on conducting periodic risk assessments, often on an annual or semi-annual basis. With the dynamic nature of risks in today’s business Read More
GUEST BLOG POST As the saying goes, you can’t audit what you don’t understand. And for auditing complex risk management processes, that idea can hit home for many internal auditors. That doesn’t mean you have to be an expert with years of experience as a risk practitioner to audit risk Read More
Office workers are using ChatGPT, or similar conversational AI models, for various tasks and purposes. Some of these uses can create risks of which compliance officers should be aware. Here are a few examples: 1) Virtual Assistants: ChatGPT can act as a virtual assistant, helping office workers manage their schedules, Read More
From supply chain disruptions to cybercrime; from environmental concerns to labor shortages, the list of challenges confronting most companies has evolved quickly and dramatically over the past few years and even months. Such speedy developments are expanding the types of risks many internal audit departments must identify and assess. Given Read More
GUEST BLOG POST Assessing the level of any business risk is not nearly as simple as most appear to make it. Just look at any risk register or heat map (or “risk profile” in COSO language, which is the same thing) and you will see a single point for each Read More
