It’s becoming clear to most internal auditors that the profession is changing very rapidly. The strategies that have worked in the past will no longer be enough to carry out internal audit’s new mandate. To meet these challenges, internal audit must improve on three major fronts: innovation, new technology, and talent management.
It’s more important than ever to have a robust recruiting and retention program for internal audit to hire the right candidates with the right set of skills and to keep star performers from leaving for other jobs.
Many internal audit departments are struggling to keep up with fast-moving technologies and widespread change in the profession. Staying on track will require more than adopting new technology, it will involve adopting a new mindset.