What Is Relevance? In this survey, we explore the perspectives of internal audit leaders and other practitioners on the topic of relevance. We also evaluate how leading internal audit functions are positioning themselves to deliver against the goal of increasing relevance. Broadly speaking, being relevant means being connected and aligned on what’s important and being insightful and providing value through communications and other forms of information sharing. As we see in the survey results, while there are some clear priorities and areas of focus, there is also variability as to where internal audit leaders are focusing their efforts. Pursuing relevance for internal audit functions can take many different forms, some of which include examining: Processes around how vision and strategy are established; How talent is accessed and aligned to tasks; How internal audit works across the organisation to coordinate and align with other risk and assurance functions; How risk assessment processes are reimagined to be more dynamic; The pursuit of agile concepts and more impactful reporting and communications; and The use and integration of data and enabling technologies. Relevance can be, and necessarily is, defined a little differently depending on organisational context, current capabilities and gaps, mandates from executives and the board, regulatory scrutiny, and more. Herein lies part of the beauty in a focus on relevance – there will be multiple, entirely valid paths to the same overall goal. Read our key findings "Internal audit must stay relevant and keep pace with changing demands, forces both internal and external to the organisation, as well as evolving expectations of and advancements in the profession, all while delivering on internal audit's core mandate." Andrew Struthers-Kennedy Managing Director, Global Leader, Internal Audit and Financial Advisory Practice, Protiviti Back to survey home Explore the results of our research Pro Document Consent Building Internal Audit’s Relevance CAEs and internal audit leaders view high-impact reporting and, more broadly, impactful communications as the top driver to establishing and building internal audit's relevance with the board, senior executives and other stakeholders. Pro Document Folder People and Talent A host of talent and skills-related issues represent significant challenges, and opportunities, for CAEs and internal audit leaders and their teams. Pro Location Globe Impactful Communications When identifying the one factor that makes their internal audit functions relevant, the top choice among CAEs and internal audit leaders and professionals is high-impact reporting. Pro Document Consent Use of Technology Investments in advanced analytics, machine learning, AI, process mining, automation, and other uses for data and enabling technology are key drivers of internal audit transformation. Detailed Findings Assessing Next-Generation Internal Audit Maturity Levels View the maturity ratings for CAEs/Audit Directors and other internal audit professionals in Governance, Methodology and Enabling Technology competencies. Access to Necessary Talent and Skills View how CAEs/Audit Directors and other internal audit professionals rate their access to talent and skills within the different Governance, Methodology and Enabling Technology competencies. Board/Management Support for Acquiring/Developing Talent View to what extent senior management and the board/committees support acquiring or developing the necessary talent and skills related to Next-Generation capabilities in the internal audit function. Primary Strategy to Secure Talent and Skills View the strategies being employed to line up the talent and skills needed within the different Governance, Methodology and Enabling Technology competencies. Survey Methodology and Demographics Protiviti conducted its global 2023 Next-Generation Internal Audit Survey online from November through December 2022. More than 550 internal audit leaders and professionals (n = 573) completed the survey questionnaire, two-thirds of whom reported as a CAE or Audit Director.