As organizations continue to have aggressive transformation and digitalization goals, internal audit functions are struggling to provide assurance.
Every year, Gartner surveys its global clients to surface the key challenges facing internal audit departments. This year, we surveyed 150 chief audit executives from the world’s leading organizations. Four key challenges around rapid transformation and digitalization emerged:
- The inability to provide assurance over rapidly changing business processes, controls and risks
- Insufficient adoption of data analytics
- Mismatch between existing staff skills and expected coverage needs
- Difficulties in shifting the business’s perception of audit and its capabilities
To provide assurance in this dynamic environment, audit functions need to keep pace by bringing different skill sets into the organization, continuing to advance their use of analytics and ensure a seat at the table for key change initiatives.
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