F or many internal auditors, 2019 was a transitional and eventful year. Most internal audit shops are still coming to grips with some big underlying shifts in internal audit. The biggest trends continue to stem from the acceleration in the use of technology to fulfill internal audit’s objectives. Some other themes of 2019 were rethinking internal audit’s role in risk management, improving the way the function operates, and finding ways for internal audit to add additional value in the organization.
These trends certainly aren’t new, but they seemed to accelerate in 2019. Most internal audit leaders are keenly aware of the fact that they old way of doing things will no longer cut it, but there still seems to be a lot of uncertainty and anxiety about what mix of strategies will lead to success. Should internal audit focus more on providing risk management advice? How can internal audit move quicker and remain flexible to fast-changing needs and emerging risks? How can it find the right mix of talents among staff members? How can it expand into these areas while not loosing a step—or objectively—on needed auditing and assurance functions?
These questions and trends are well reflected in the top articles of 2019 from Internal Audit 360°. These are the internal audit articles that garnered the most attention—and page views—from readers in the past year and are listed below.
As we look forward into 2020, there will be new developments, but these underlying trends will continue to challenge and shape internal audit in the coming year. We at Internal Audit 360° look forward to covering these critical issues and continuing the discussion on how internal audit can excel and make great contributions to the overall success of the organization.
Top Internal Audit Articles of 2019
1. Is the Three Lines of Defense Model Outdated?
Where, exactly, does responsibility lie in a modern corporation for ensuring that risks are being identified and managed? It may seem like a simple question, but the answer is far more complex. In fact, a long-used model to define such responsibilities, the “Three Lines of Defense” model, is in the process of getting a makeover.
2. Internal Auditing the Agile Way
Many internal audit shops are adopting Agile project management principles in an attempt to create a more flexible, adaptive, and customer-oriented audit function. Agile is not a revolution for internal audit, but a step to the next stage of evolution. And while the results have been promising, expect a few bumps along the way. Nevertheless, this journey is vital if internal audit is to remain relevant.
3. Ten Things Every New Internal Auditor Should Know
Congratulations! You’ve landed your first job as an internal auditor, either as a young person starting your career in an exciting profession or as someone who is transitioning into internal audit from elsewhere in the organization. Either way, you are about to embark on an interesting and rewarding journey. Here are ten things to keep in mind before, and when, that first audit assignment comes your way.
4. The Pros and Cons of Including Ratings in Internal Audit Reports
Many internal audit shops include a rating or grade at the end of an audit report intended to summarize the findings and bring attention to the most important conclusions of the report. While boards and senior management tend to love the audit report ratings, since they quickly guide their focus to what needs the most immediate attention, process owners and auditees tend to hate them. They think they can oversimplify the issues and paint their units in an unfair light.
5. Eight Common Internal Audit Hiring and Retention Mistakes
Internal auditors are in high demand these days. Recruiters and competitors are looking to snatch high-quality talent with the right set of skills and background. Management understands the value talented internal auditors can provide to help them make good and timely decisions, mitigate risks, and meet strategic objectives. That means it’s more important than ever to have a robust recruiting and retention program for internal audit to keep star performers from leaving for other jobs.
Achieving Success in 2020
We at Internal Audit 360° will have much more to say on these issues and many other internal audit topics in 2020, and we look forward to bringing you more articles, more internal audit news, and more coverage of the internal audit profession in the coming year. Have a wonderful year ahead, and we wish you much success in your internal audit pursuits.
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Thank You! Here’s to a happy, healthy, and successful 2020! 
Joseph McCafferty is Editor & Publisher of Internal Audit 360°