Embracing the Next Generation of Internal Auditing
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If “No”: Does your internal audit department have plans to undertake any transformaon or innovaon acvies? For more informaon, read our full survey report, Embracing the Next Generaon of Internal Auding, available at www.provi.com/IAsurvey. Provi is not licensed or registered as a public accounng firm and does not issue opinions on financial statements or offer aestaon services. © 2019 Provi Inc. An Equal Opportunity Employer M/F/Disability/Veterans. Digital Leaders/ Experts CAEs All respondents OVERALL 1. Enterprise risk management 2. Cybersecurity risk/threat 3. Vendor/third-party risk management 4. Fraud risk management 5. COSO Internal Control – Integrated Framework 6. Agile risk and compliance 7. Lease Accounng Standard – Accounng Standards Update (ASU) No. 2016-02, Leases (Topic 842) 8. AICPA’S Criteria for Management’s Descripon of an Enty’s Cybersecurity Risk Management Program 9. Cloud compung 10. Revenue Recognion Standard (FASB) Accounng Standards Update No. 2014-09) CAEs 1. Cybersecurity risk/threat 2. Enterprise risk management 3. Fraud risk management 4. Vendor/third-party risk management 5. COSO Internal Control – Integrated Framework 6. Revenue Recognion Standard (FASB) Accounng Standards Update No. 2014-09) 7. AICPA’S Criteria for Management’s Descripon of an Enty’s Cybersecurity Risk Management Program 8. Lease Accounng Standard – Accounng Standards Update (ASU) No. 2016-02, Leases (Topic 842) 9. Evaluang SOC reports 10. Cloud compung Top 10 Audit Plan Priories for 2019 Which one of the following statements best defines the current maturity of your internal audit transformaon or innovaon acvies? Digital Leaders/Experts All respondents There is no formal innovaon agenda and no programs are in place to drive or encourage innovave thinking and pursuits Even if an innovaon agenda does not exist, ideas are encouraged and oſten evaluated and explored The internal audit funcon has run innovaon challenges to generate ideas and pursue proposed soluons The internal audit funcon understands the importance of innovaon and innovaon contribuons are measured as part of performance appraisals Innovaon is defined as a core value for the internal audit funcon with an appreciaon and focus on connuous reinvenon to long-term success Yes 76% 72% 81% No 19% 27% 13% Unsure 5% 1% 6% All respondents Most organizaons have started their innovaon journey and ancipate significant progress over the next two years, according to the results of Provi’s 2019 Internal Audit Capabilies and Needs Survey. Yes, in the next year 24% 27% 24% Y es, in the 2 next years 40% 42% 41% No 36% 31% 35% Digital Leaders/ Experts CAEs Is your internal audit department currently undertaking any transformaon or innovaon iniaves? Embracing the Next Generaon of Internal Auding 18% 11% 23% 25% 27% 22% 28% 32% 4% 10%
Transcript of Embracing the Next Generation of Internal Auditing
If “No”: Does your internal audit department have plans to undertake anytransformation or innovation activities?
For more information, read our full survey report, Embracing the NextGeneration of Internal Auditing, available at www.protiviti.com/IAsurvey. Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services.
© 2019 Protiviti Inc. An Equal Opportunity Employer M/F/Disability/Veterans.
DigitalLeaders/Experts
CAEsAllrespondents
OVERALL1. Enterprise risk management
2. Cybersecurity risk/threat
3. Vendor/third-party risk management
4. Fraud risk management
5. COSO Internal Control – Integrated Framework
6. Agile risk and compliance
7. Lease Accounting Standard – Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842)
8. AICPA’S Criteria for Management’s Description of an Entity’s Cybersecurity Risk Management Program
9. Cloud computing
10. Revenue Recognition Standard (FASB) Accounting Standards Update No. 2014-09)
CAEs1. Cybersecurity risk/threat
2. Enterprise risk management
3. Fraud risk management
4. Vendor/third-party risk management
5. COSO Internal Control – Integrated Framework
6. Revenue Recognition Standard (FASB) Accounting Standards Update No. 2014-09)
7. AICPA’S Criteria for Management’s Description of an Entity’s Cybersecurity Risk Management Program
8. Lease Accounting Standard – Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842)
9. Evaluating SOC reports
10. Cloud computing
Top 10 Audit Plan Priorities for 2019
Which one of the following statements best defines the current maturity of your internal audit transformation or innovation activities?
DigitalLeaders/Experts
Allrespondents
There is no formal innovation agenda and no programs are in place to drive or encourage innovative thinking and pursuits Even if an innovation agenda does not exist, ideas are encouraged and often evaluated and explored
The internal audit function has run innovation challenges to generate ideas and pursue proposed solutions
The internal audit function understands the importance of innovation and innovation contributions are measured as part of performance appraisals
Innovation is defined as a core value for the internal audit function with an appreciation and focus on continuous reinvention to long-term success
Yes 76% 72% 81%
No 19% 27% 13%
Unsure 5% 1% 6%
Allrespondents
Most organizations have started their innovation journey and anticipate significantprogress over the next two years, according to the results of Protiviti’s 2019 Internal Audit Capabilities and Needs Survey.
Yes, in the next year 24% 27% 24%
Yes, in the 2 next years 40% 42% 41%
No 36% 31% 35%
DigitalLeaders/Experts
CAEs
Is your internal audit department currently undertaking anytransformation or innovation initiatives?
Embracing the Next Generation of Internal Auditing
18% 11%
23% 25%
27% 22%
28% 32%
4% 10%
