Organizations today are facing a widening gap between risk demands and risk management capacity. To address this, many are looking to their internal audit teams for help.
A 2024 AuditBoard survey of 150 CAEs and internal audit leaders found that 55% of CFOs and 50% of audit committees and boards are asking internal audit to do more work around risk. In fact, when asked about future priorities, CAEs ranked integrated risk management as their number one area for expanded engagement.
So how can your organization enhance resilience in a volatile risk environment when traditional audit and SOX work dominate your capacity?
Connected risk – a modern, cross-functional approach to managing risk across the enterprise – promises to connect teams, unify data, and automate processes.
In this report, Internal Audit’s Expanding Role: The Foundation for Connected Risk, you’ll find a blueprint to discover the untapped potential of your internal audit function, including how to:
- Benchmark your team’s time allocation against organizations of a similar size.
- Address the two key areas CAEs aim to expand efforts on by 2026.
- Apply strategies to optimize internal audit activities and reduce time spent on SOX.
- Master the four cornerstone projects that build the foundation for connected risk.
- Gain actionable insights on quick wins to organize, connect, and coordinate risk efforts.
