The Internal Audit and Risk Agenda

2024 looks to be another year of permacrisis with significant geopolitical disruption continuing.

Most of the world’s major economies are undergoing elections in the coming year and the conflicts in the Ukraine and the Middle East continue to impact the global economy. Organisations that are only just beginning to recover from the disruption of three years of pandemic face further uncertainty in respect of inflation, interest rates, energy supply costs and talent shortages.

The world is constantly changing and evolving and so an ever-increasing array of challenges will always be heading our way. So how do internal auditors help their organisations ‘realise’ their potential?

You will have seen the recent announcement from the FRC on the updates to the UK Corporate Governance code. It puts the role of Internal Audit as the ‘eyes and ears’ of an organisation in the spotlight once again – where we will play a critical role providing insight into culture, effectiveness of risk management and controls. Internal Audit is in the privileged position to operate holistically across an organisation and therefore will support Management and the Board in identifying and the ongoing monitoring of those material controls.

This document sets out some of the key challenges on the horizon that Internal Audit should be considering when thinking about the wider assurance footprint relevant for their organisations.

Download our publication to delve deeper into the critical role of Internal Audit in shaping culture, enhancing risk management, and fortifying controls and reach out to our team for a personalised consultation.