Internal audit

Internal audit functions around the world continue to expand their impact and influence, delivering advisory and assurance services

Starting with planning and scoping an annual internal audit plan, the key question posed to every chief audit executive will be: 

Are you aware of the risks concerning internal audit today and in the near future?

2020 was defined by the coronavirus pandemic, setting the scene for a new business normal. As a result of these developments, a new set of emerging risks can be taken into consideration when the internal audit function is developing an annual plan—without neglecting established risks. KPMG believes the following risk areas may take the center stage in 2021.

• Business resilience
• Cyber security and data privacy in the expanded work environment
• Thirdparty management: supply chain disruption and vendor solvency
• Staff wellbeing and talent management
• Fraud and the exploitation of operational disruption
• Climate change: the next crisis
• Culture and behavior and soft controls
• Regulatorydriven risk
• Data management and data & analytics