Assessing Results of Protiviti’s 2021 Next-Gen Internal Audit Survey
Innovation and Transformation Are Driving the Future of Internal Auditing
The past two years have seen unprecedented levels of innovation and transformation among organisations worldwide as they have pivoted and adapted in response to a historic global pandemic. Innovation and transformation are now mainstays in ensuring businesses stay relevant and competitive. This unquestionably is a mindset that CAEs and their internal audit teams must adopt – and many have.
If the internal audit function has yet to undertake any form of innovation or transformation activities, it is missing opportunities to remain relevant, lagging the competition, and likely building barriers to accessing and developing talent.
Infographic and Key Findings
- Internal audit teams are focused more on innovation and transformation.
- Large organisations tend to be further along in their journey, but smaller ones are not far behind.
- Close to half of internal audit teams see a high or medium level of return on investment (ROI) resulting from innovation and transformation initiatives, while a majority of CAEs see these levels of ROI.
- There may be an over-reliance on training and developing current staff to support innovation and transformation efforts.