Internal Audit Trends During COVID-19 & Beyond

COVID-19 has proven to be one of the most acute risk management exercises Canadian organizations have ever encountered. It has thoroughly exposed internal audit successes and shortcomings. And it will continue to shape strategic and operational decisions for years to come.

Now that the initial shock of the pandemic has passed, it's time for internal audit committees to begin considering some of the most important learnings, as well as steps organizations can begin taking to avoid being caught flat-footed when a second wave arrives. Understanding which areas are most important to the business - and the role internal audit can play in guiding an organization's priorities as they relate to managing risk - will be essential for timely and effective decision making moving forward.

In our white paper, we discuss key considerations, and highlight risk trends to think about in the immediate and medium-term. We look at the cyber security and privacy implications COVID-19 has driven to the forefront. We evaluate the effectiveness of business resilience plans and the importance of fraud and data ethics. Lastly, we look at digital transformation strategy; environment, social, and governance; and culture and strategy as these relate to internal audit.

Contact Richard Arthurs, National Leader Internal Audit Services to learn more [email protected].