Nowadays, the state of the economy seems to perpetually be in the media headlines, and businesses continue to grapple with an uncertain, challenging and volatile economic backdrop. A new survey by the Chartered Institute of Internal Auditors finds that six in ten internal audit executives now regard the risk level posed by economic uncertainty to their organisation to be either high or very high. Gavin Hayes explains that, to navigate these risky and challenging times, collaboration between risk management and internal audit has never been more vital.
Read MoreGavin Hayes
Boards, risk professionals and internal audit must work together to navigate the ‘perfect storm’ of high-impact interlocking risks urges Chartered IIA
The Chartered IIA’s recently released ‘Risk in Focus 2023’ report provides an excellent picture of risk trends. Cybersecurity remains the top risk for the fifth year in a row, but the most dynamic rising threat to watch out for is Geopolitical and Macroeconomic Uncertainty. With an increasingly challenging risk landscape, Emma Expo considers what should internal audit, risk professionals and boards could do to navigate the more risky, uncertain and volatile times ahead.
Read More
Internal audit and risk functions must collaborate to champion a healthy culture
Corporate culture is not just a risk in its own right, but it has a significant impact on a broad range of other risks, and vice versa with other key risks having a big impact on the corporate culture, argues Gavin Hayes. He draws on the findings of the latest report from the Chartered Institute of Internal Auditors, ‘Cultivating a healthy corporate culture’ and calls for internal audit, audit committees, and boards all to step up regarding their organisation’s culture - and for risk management and internal audit to ensure there is a joined-up approach to identifying, managing, and mitigating culture-related risk.
Read More