Internal Audit should also allow for flexible and dynamic internal audit planning in order to manage the rapidly evolving business landscape.
Traditionally, Internal Audit develops its risk-based audit plan based on a methodical approach that enables the organization to focus on key risk areas. However, as the business landscape continues to be disrupted and evolves with the rapid advancements of technology, regulatory requirements and business models, the underlying risk landscape becomes more dynamic and complex. This means that it is essential for Internal Audit to adapt and remain agile in its audit framework and methodology.
A modern IA function should focus on understanding the organization’s key risks and pro-actively identify emerging risks that would disrupt the execution of the business strategy. Internal Audit should also allow for flexible and dynamic internal audit planning in order to manage the rapidly evolving business landscape.
We will keep you informed of our publications and articles by email.
Set your preferences here.
© 2020 KPMG N.V., registered with the trade register in the Netherlands under number 34153857, is a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ('KPMG International'), a Swiss entity. All rights reserved. KPMG International Cooperative ('KPMG International') is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.