How internal audit can respond to the new norm

How internal audit can respond to the new norm

A simplified continuous risk assessment (CRA) approach can be a viable response of internal audit on the risks created by the new covid-19 reality.

Gerelateerde content

Nl electricity

The new norm

Although it is still unclear how the world will emerge from the significant challenges that COVID-19 has presented, hopefully more resilient, there are some basic questions that require immediate action and re-calibration from Internal Audit leaders. There are new questions as to how internal audit should focus in light of the COVID-19 impact on the organization:

  • How relevant is the current audit plan and what parts of it require recalibration?
  • How does Internal Audit keep pace with the speed of changes occurring in the business, including changes in the control environment?
  • How does the department pivot to help the organization address new business risks?
  • How does an internal audit team better use technology and data to gain insight?

It appears that we are at an intersection, and there is a viable response to these questions. That response presents itself through Internal Audit taking a more data-driven approach that monitors and takes action quickly to help the organization navigate the risks created due to COVID-19. This can be achieved through a simplified continuous risk assessment (CRA) through use of technology to monitor risks created due to COVID-19 through an internal audit lens. We believe this is a transformational moment for Internal Audit departments. The KPMG Internal Audit team has extensive experience structuring and executing a useful dashboard to enhance the role of internal audit in the organization's overall response.

The current opportunities to use a simplified CRA approach to address risks created by COVID-19 is not dependent on whether you have performed a data-driven risk assessment similar to CRA in the past. Such an assessment would focus on what is not working as well as what is working in our new reality.

Please download the publication for more information.

Read more articles and blogs about this subject

We will keep you informed of our publications and articles by email.
Set your preferences here.

© 2021 KPMG N.V., een Nederlandse naamloze vennootschap en lid van de wereldwijde KPMG-organisatie van onafhankelijke ondernemingen gelieerd aan KPMG International Limited, een Engelse vennootschap “limited by guarantee”. Alle rechten voorbehouden.

Neem contact met ons op


Wilt u een offerte van ons ontvangen?


loading image Vraag een offerte aan

Mijn profiel

Blader door artikelen en kies uw interesses.

Sign up today