56% of internal audit professionals perceive the current risk level in today’s economic conditions as high or very high, a new report by The Chartered Institute of Internal Auditors (CIIA) and AuditBoard finds. How are internal auditors supporting their organisations in navigating today’s economic uncertainty?
In light of ever-evolving conditions that have potentially great economic implications, including the collapse of Silicon Valley Bank in the United States and the emergency takeover of Credit Suisse by UBS in Europe, adopting an agile approach to risk management has never been more urgent.
The CIIA and AuditBoard report, Adapting to Economic Uncertainty: Internal Audit’s Journey, researched and analyzed the experiences of internal audit professionals throughout the recent economic cycle, which has included a global pandemic, a flash recession, the War in Ukraine, rising interest rates, and the cost-of-living crisis. Download the full report to access:
- Key takeaways from past economic shocks and their impact on internal audit’s approach to risk management.
- Data illuminating how auditors are facing the challenges of economic uncertainty and navigating these uncertain times.
- Proactive approaches auditors can take to support their organisations in adapting to economic uncertainty.