Tag: risk management

When AI Models Hallunicnate

Internal Audit's Role in Governing AI: PART 2
AI Hallucinations: When Your Models Start Making Things Up

On By Nirpendra Ajmera

No alert fires. No system throws an error. The model confabulates, and the organization relies on it. Most organizations assume they are reviewing AI outputs. In practice, many are reading confident text without asking whether a single sentence is accurate. This is the hallucination problem. For internal audit functions serious Read More

Building Risk Reflexes for Stronger, Faster, Smarter Internal Audit

On By Tegan Gebert, Chris Audet, and Doug Eckstein

Internal audit is under increasing pressure as the risk environment grows more complex and interconnected. Risk management has risen over 50 percent in importance among CEOs in the past year, reflecting the urgency for organizations to adapt. During the keynote address to Assurance leaders at the Gartner Enterprise Risk, Audit Read More

AI Model Drift

Internal Audit's Role in Governing AI: PART 1
Model Drift: When AI Models Lie and What Internal Audit Must Do about It

On By Nirpendra Ajmera

There is a particular kind of risk that keeps model risk officers up at night. It is the risk of a model that keeps running, keeps producing outputs, keeps feeding decisions into the business, while quietly becoming wrong. No alert fires. No dashboard turns red. The model simply drifts, and Read More

Fastest Growing Risks

New Study Finds More Synergy Between Internal Audit and Risk Management

On By IA360 Staff

A new report issued jointly by the Internal Audit Foundation, Baker Tilly, and Wolters Kluwer TeamMate examines the evolution of risk management activities, highlighting the importance of strategic collaboration with internal audit without sacrificing independence. Drawing on the IIA’s Risk Research survey insights, the report is intended to identify opportunities Read More

When Data Moves, Risk Moves with It: The Hidden Challenges of Warehousing Data

On By Joseph McCafferty

For many organizations, the move to a modern data architecture brings with it a host of appealing possibilities. It promises centralized data, broken down silos, advanced analytics, power dashboards, forecasting models, and, of course, everyone’s favorite topic: artificial intelligence. The data warehouse or data lake—often cloud-based, scalable, and fast—becomes the Read More

When risk-based audit planning is not enough

Survey Finds Optimism on Growth in 2026 Despite Cyber and Tech Risks

On By Joseph McCafferty

Global business leaders remain optimistic about growth prospects over the next several years, even as economic uncertainty, geopolitical tensions, and rapid technological change continue to reshape the risk landscape. According to a new survey conducted by consulting firm Protiviti in collaboration with North Carolina State University’s ERM Initiative, nearly 70 Read More

Internal Audit’s Expanding Role in Enterprise Risk Management

On By Tim Berichon

The internal auditing function is receiving new levels of attention and interest, especially as organizations seek to strengthen their ability to protect value and drive higher levels of confidence. Effective Chief Audit Executives are becoming even more risk-oriented than they have in the past, taking a more proactive approach to Read More

Scenario Planning

AuditBoard Launches Scenario Planning to Help with Data-Driven Decision Making

On By IA360 Staff

AuditBoard, an AI-powered global platform for connected risk, has announced the launch of Scenario Planning, a solution it says was “designed to empower executive leaders and risk teams to shift their focus from reactive reporting to proactive anticipation, enabling them to make data-driven business decisions with confidence in an increasingly Read More

Slowing economy emerges as a top risk

Survey: Weakening Economy Tops List of Emerging Risks in Q3

On By IA360 Staff

The low-growth economic environment, caused by tariff-driven trade tensions and other conditions, moved into the top rank of emerging risks for the third quarter of 2025, according to Gartner, a business and technology research and consulting company. The Quarterly Emerging Risk Report series surveys the views and concerns of enterprise Read More

Aligning internal audit with biz objectives

Aligning Internal Audit with Broader Business Objectives

On By Prasant Prusty and Mahmad Aseef

Internal audit has experienced a significant transformation over the last decade or so. Once primarily seen as a compliance-oriented role, it now forms a vital component of strategic decision making. Today’s internal auditors are required to adopt a forward-thinking stance in spotting emerging risks and delivering insights based on data Read More