The Institute of American Auditors (IAA) has released a report examining the need to bolster industry agility and innovation.
Officials said the examination addresses both topics on multiple fronts, discussing everything from the shift in mindset to the mix of talent and technology that is necessary to complete the job.
“The path toward agility and innovation may be challenging, with pitfalls, dead ends, and false starts blocking the road ahead,” the report said. “Regardless, the alternative to an agile, innovative audit function is one that remains slow and traditional — and that function just won’t last in the world that’s coming.”
In the report, chief audit executives (CAEs) lend insight regarding what they see as internal audit’s current and emerging role and what it will take to bridge the gap.
To assist internal auditors with getting on the path to agility and innovation, the report concluded with five steps they can take now to put the wheels in motion.
IAA partners with affiliates in more than 170 countries and territories to fulfill its mission to advance the internal audit profession and serve its more than 190,000 members globally.
Affiliates serve as the IAA’s exclusive representatives to collectively carry the voice of the internal audit profession, promoting high standards of ethics and professional practice in their internal audit communities.