Tag: risk management

Institute of Internal Auditors

RIMS and IIA Reach Agreement to Share Education Resources

As expectations rise for both risk management professionals and internal auditors, RIMS, the risk management society, and The Institute for Internal Auditors have entered into an agreement to provide both professional communities with greater access to career-building and program-advancing learning experiences. RIMS and The IIA will offer their respective memberships Read More

Auditing Risk Management

Top Five Use Cases for Applying GenAI in Risk Management

Risk management teams can increase their efficiency and drive better risk insight and mitigation by using generative AI tools in five ways, according to Gartner, an IT research and advisory firm. “GenAI offers ERM teams a unique opportunity to expand their capabilities without significant investments,” said Joel Backaler, Director Analyst Read More

Fastest Growing Risks

New Report Identifies Fastest Growing Risks for Companies

Digital disruption and climate change have emerged as the two fasting-growing risk areas for organizations across industries, according to a new report. Based on feedback from more than 3,500 internal audit leaders around the world, global risk levels for digital disruption and climate change are projected to increase 20 percent Read More

Is Internal Audit Being Asked to Do too Much?

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

Auditing Risk Management

Survey: Internal Audit Being Asked to Take on More Risk-Related Tasks

A new survey finds that boards and CFOs are asking internal audit to take on more risk related work. The study revealed that these expanding expectations are coming at a time when internal audit has limited bandwidth for advisory-related services — and increasing risk demand and insufficient risk management capacity Read More

Internal Audit's role in finding fraud

Internal Audit’s Increasing Role in Hunting for Fraud

How can internal auditors look for fraud and assess fraud risks while remaining trusted advisors to their audit clients and management? The question is gaining renewed attention, in part because both the new Global Internal Audit Standards from the Institute of Internal Auditors (IIA) and the proposed standards from the Read More

CAEs Diverting Internal Audit Resources to AI-Related Risks

[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

Anticipating a Scandal: Is AI a Ticking Time Bomb for Companies?

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

Demystifying AI and Its Algorithms: What Internal Auditors Need to Know

It’s been more than a year since generative artificial intelligence (GenAI) burst onto the scene with mainstream appeal. These new tools have been presented by some as an unstoppable force, upending industries and changing the way people work. Generative AI can have an immense upside for organizations across many corporate Read More