The past two years have seen unprecedented levels of innovation and transformation among organizations 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.