PROTIVITI REPORT LOOKS BACK AT 20 YEARS OF TRANSFORMATION IN INTERNAL AUDITING
Protiviti's 20th anniversary Internal Auditing Around the World® report highlights the significant evolution of internal audit over the past two decades. The report, titled 'Exploring a Universe of Experience as a Launchpad to the Future,' utilized AI to analyze 19 previous volumes, revealing key trends:
1. Internal audit's transformation from compliance-focused to strategic adviser
2. Shift towards value-adding services
3. Increased board reliance on internal audit for high-risk areas
4. Integration of technology and data analytics
5. Focus on diverse talent and soft skills
6. Internal audit as a catalyst for change
The report outlines five strategies for Chief Audit Executives (CAEs) to elevate their functions: prioritizing transformation, leveraging technology, cultivating talent, fostering innovation, and acting as strategic partners.
Il 20° anniversario di Protiviti del report Internal Auditing Around the World® evidenzia l'importante evoluzione della revisione interna nell'ultimo ventennio. Il report, intitolato 'Esplorare un Universo di Esperienze come Piattaforma per il Futuro,' ha utilizzato l'IA per analizzare 19 volumi precedenti, rivelando tendenze chiave:
1. La trasformazione della revisione interna da un approccio focalizzato sulla conformità a consulente strategico
2. Spostamento verso servizi che aggiungono valore
3. Maggiore affidamento da parte del consiglio di amministrazione sulla revisione interna per aree ad alto rischio
4. Integrazione della tecnologia e dell'analisi dei dati
5. Focus su talenti diversificati e soft skills
6. La revisione interna come catalizzatore del cambiamento
Il report delinea cinque strategie per i Chief Audit Executive (CAE) per elevare le loro funzioni: dare priorità alla trasformazione, sfruttare la tecnologia, coltivare talenti, promuovere l'innovazione e agire come partner strategici.
El 20.º aniversario del informe Internal Auditing Around the World® de Protiviti destaca la evolución significativa de la auditoría interna en las últimas dos décadas. El informe, titulado 'Explorando un Universo de Experiencia como Plataforma para el Futuro,' utilizó IA para analizar 19 volúmenes anteriores, revelando tendencias clave:
1. Transformación de la auditoría interna de un enfoque en cumplimiento a asesor estratégico
2. Cambio hacia servicios que añaden valor
3. Mayor dependencia del consejo sobre la auditoría interna para áreas de alto riesgo
4. Integración de tecnología y análisis de datos
5. Enfoque en talento diverso y habilidades blandas
6. La auditoría interna como catalizador del cambio
El informe establece cinco estrategias para los Chief Audit Executives (CAE) para elevar sus funciones: priorizar la transformación, aprovechar la tecnología, cultivar talento, fomentar la innovación y actuar como socios estratégicos.
Protiviti의 20주년 기념 보고서 Internal Auditing Around the World®는 지난 20년간 내부 감사의 중요한 진화를 강조합니다. '미래를 위한 발판으로서 경험의 우주 탐험하기'라는 제목의 보고서는 AI를 사용하여 19개의 이전 볼륨을 분석하며 주요 트렌드를 드러냈습니다:
1. 내부 감사의 준수 중심에서 전략적 자문으로의 변모
2. 가치 추가 서비스로의 전환
3. 고위험 분야에 대한 이사회의 내부 감사 의존도 증가
4. 기술 및 데이터 분석의 통합
5. 다양한 인재와 소프트 스킬에 대한 집중
6. 변화를 촉진하는 내부 감사
보고서는 CHIEF AUDIT EXECUTIVES (CAE)를 위한 기능 향상 전략 다섯 가지를 제시합니다: 변혁 우선순위 설정, 기술 활용, 인재 육성, 혁신 촉진, 그리고 전략적 파트너로서의 역할 수행.
Le 20e anniversaire du rapport Internal Auditing Around the World® de Protiviti met en lumière l'évolution significative de l'audit interne au cours des deux dernières décennies. Le rapport, intitulé 'Explorer un Univers d'Expériences comme Tremplin vers l'Avenir,' a utilisé l'IA pour analyser 19 volumes précédents, révélant des tendances clés :
1. La transformation de l'audit interne, passant d'une approche axée sur la conformité à un conseiller stratégique
2. Changement vers des services à valeur ajoutée
3. Dépendance accrue du conseil d'administration vis-à-vis de l'audit interne pour des domaines à haut risque
4. Intégration de la technologie et de l'analyse des données
5. Accent sur des talents diversifiés et des compétences douces
6. L'audit interne comme catalyseur du changement
Le rapport décrit cinq stratégies pour les Directeurs de l'Audit (CAE) afin d'élever leurs fonctions : donner la priorité à la transformation, tirer parti de la technologie, cultiver les talents, promouvoir l'innovation et agir en tant que partenaires stratégiques.
Der 20. Jubiläumsbericht Internal Auditing Around the World® von Protiviti hebt die bedeutende Entwicklung der internen Prüfung in den letzten zwei Jahrzehnten hervor. Der Bericht mit dem Titel 'Das Erforschen eines Universums an Erfahrungen als Sprungbrett in die Zukunft,' nutzte KI zur Analyse von 19 vorherigen Bänden und offenbarte wichtige Trends:
1. Die Transformation der internen Prüfung von einer Compliance-Orientierung hin zu strategischen Beratern
2. Verschiebung hin zu wertschöpfenden Dienstleistungen
3. Zunahme des Vertrauens des Vorstands in die interne Prüfung bei risikobehafteten Bereichen
4. Integration von Technologie und Datenanalytik
5. Konzentration auf diverse Talente und Soft Skills
6. Die interne Prüfung als Katalysator für Veränderungen
Der Bericht skizziert fünf Strategien für Chief Audit Executives (CAEs), um ihre Funktionen zu erweitern: Transformation priorisieren, Technologie nutzen, Talente fördern, Innovation vorantreiben und als strategische Partner agieren.
- Internal audit function has evolved into a strategic adviser role
- Increased board engagement on high-risk areas beyond compliance
- Integration of technology and data analytics in internal audit processes
- Focus on diverse talent acquisition and development
- Internal audit functions acting as catalysts for organizational change
- None.
The willingness of the internal audit function to be bold and adopt an innovative mindset has transformed the industry
To undertake a technology-driven review of previous reports, the 20th edition utilized Protiviti's proprietary generative AI tool to review the past 19 volumes of the series to identify themes and trends. The series collectively contains 244 profiles of leading internal audit functions and more than 460,000 words of commentary and insights.
"Internal audit leaders must be bold, willing to explore and expand into new frontiers — serving as a guiding star, steering organizations toward a resilient and adaptive future," said Andrew Struthers-Kennedy, global leader of Protiviti's Internal Audit and Financial Advisory practice.
The report revealed several trends underscoring the transformation of internal audit functions:
- Rise to relevance as strategic adviser: The internal audit function and the role of Chief Audit Executives (CAE) have evolved from a compliance-focused, backward-looking function to a strategically aligned and value-adding partner to the organization.
- Value delivery: The shift from a compliance and controls focus to a wide-ranging mix of assurance and advisory services over the 20 years has played a major role in shaping the view of the internal audit as a function delivering value and providing sought-after strategic input.
- Board engagement: Boards have come to rely more on their internal audit leaders to focus and advise on high-risk areas beyond compliance activity such as: cybersecurity, fraud, new technology adoption, market expansion, sustainability initiatives and more.
- Technology and data enablement: Technology, particularly data analytics, automation and, most recently, AI, have become integral in modernizing the internal audit function.
- Diversity of talent: Leading internal audit functions have invested in attracting, developing, and retaining talent with diverse backgrounds and capabilities and have made talent management a core part of their function's strategy. Soft skills (such as effective communication, critical and creative thinking, and problem solving) are emphasized just as much as more technical skills (such as knowledge and ability to use analytics solutions and emerging technologies).
- Catalyst for change: Finally, best-in-class internal audit functions act as catalysts for change. These teams provide insights that drive improvement and help their organizations capture opportunity while safeguarding against downside risks.
This year's report outlined five strategies that CAEs and internal audit teams should take to elevate their functions, which include prioritizing transformation, leaning on technology, cultivating talent, adopting an innovation mindset and acting as a strategic partner through collaboration and communication. The report points out that these actions will help CAEs and their teams continue to be strategic, highly relevant, value- and opportunity-oriented, risk-centric, and technology-enabled advisers.
Resources Available
The report, "Exploring a Universe of Experience as a Launchpad to the Future," and the 'Notable Internal Audit Milestones' one-pager are available here.
About Protiviti
Protiviti (www.protiviti.com) is a global consulting firm that delivers deep expertise, objective insights, a tailored approach and unparalleled collaboration to help leaders confidently face the future. Protiviti and its independent and locally owned member firms provide clients with consulting and managed solutions in finance, technology, operations, data, digital, legal, HR, risk and internal audit through a network of more than 90 offices in over 25 countries.
Named to the Fortune 100 Best Companies to Work For® list for the 10th consecutive year, Protiviti has served more than 80 percent of Fortune 100 and nearly 80 percent of Fortune 500 companies. The firm also works with government agencies and smaller, growing companies, including those looking to go public. Protiviti is a wholly owned subsidiary of Robert Half (NYSE: RHI).
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