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Volume 19 — Relevance: One Goal, Multiple PathsWhat does it mean for an internal audit function to be relevant? What can internal audit leaders do to increase the relevance of their teams?
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As the COVID-19 pandemic impacted two years ago, Internal Audit (IA) globally witnessed swift innovation and improvisation to meet the challenges. In Kuwait, the stringent regulations issued by the Capital Market Authority (CMA) are making the IA fraternity more cognizant of its role in the fast-evolving corporate governance landscape.
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As internal audit functions face a continuing talent crunch and demands to support the organisation’s strategic moves in response to external events, chief audit executives (CAEs) are focused on growing internal audit’s relevance with the board, senior executives and other stakeholders.
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Organisations today spend an average of 30% of their IT budgets and invest a fifth of their IT human resources on technical debt management. This research, based on a global survey of more than 1,000 CIOs, CTOs and other technology leaders, underscores the burden created by technical debt and likely is an eye-opener for the CFO.[1]
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The manner that failure is embraced instead of feared in a business can improve the way the company evolves and responds to new market opportunities.
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Protiviti’s recent webinar was attended by over 250 participants, including Board & Audit Committee Members, Chief Audit Executives, C-suite executives and other Management levels across different industries in the MENA region.
