With the rise of artificial intelligence (AI) rapidly revolutionizing how we do business and live our everyday lives, Chief Internal Auditors are becoming increasingly concerned that cyber-criminals are likely to weaponize the technology to commit bigger, more sophisticated and more dangerous crimes. New research has found that 78 percent of Read More
In today’s business environment, where risks continuously evolve and market dynamics constantly fluctuate, effective risk management is critical for financial institutions striving for stability and growth. Amidst such a challenging atmosphere, business intelligence (BI) tools have emerged as indispensable assets, revolutionizing the way risk analytics is conducted in the financial Read More
A new survey finds that internal audit departments are generally increasing their budgets and adding more staff. According to the survey, conducted by the Institute of Internal Audit’s Internal Audit Foundation, 36 percent of internal audit departments said they had increased their budget last year, compared to 13 percent who 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
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
In this fast-changing business world, the role of the internal auditor has become increasingly complex. Today, they face not only traditional challenges of fraud detection and financial accuracy but also the daunting task of navigating a digital world where data reigns supreme. To thrive in this age of disruption, driven Read More
The term “AI washing” has emerged as a major concern in recent years, paralleling the previously established concept of “greenwashing.” Just as greenwashing involves misleading claims about a company’s environmental practices, AI washing involves exaggerating or falsifying the use of artificial intelligence (AI) in products, services, or processes. This poses 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 With the rise of artificial intelligence and ChatGPT, sometimes I think that we internal auditors will all soon be out of a job. But then I have a very boring task to do, and I wonder why I can’t just ask a machine to do it! Just Read More
According to history, our cave-dwelling predecessors, the Neanderthals, went extinct for a reason–they couldn’t adapt to their changing environment. Maybe they wanted to, but they couldn’t and unfortunately, they didn’t. Eventually, they were replaced by us humans, of course, who were better able to adapt to changing weather, hunting patterns, Read More
