Blog: 10 Events That Defined the Past Decade for Internal Audit
In his blog, IIA President and CEO Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession. Here’s an excerpt from his latest post:
Ten years ago, at the conclusion of my first year as The IIA’s CEO, I wrote a blog on the events that defined the 2000s for internal auditors. It is hard to believe that it is that time again! For internal auditors, the 2010s began with an increased focus on compliance around post-financial crisis regulations. This decade is coming to a close with a slew of new regulations aimed at protecting consumer data and privacy. To the casual observer, it might appear that regulatory compliance remains the driver of internal audit’s primary mission. However, this is not the case.
Advances in technology in the past 10 years have opened a new world of opportunities and threats for the organizations the profession serves. From increasingly sophisticated and brazen hacking that has reshaped cybersecurity to artificial intelligence that promises to disrupt the traditional workplace model, technology has redefined and reprioritized risk management like never before.
It is difficult to concisely explain just how dramatic the past decade was for the profession, because so many significant factors impacted us, including technology, climate change, increased regulation, globalization, macroeconomic volatility, geopolitical upheaval, and investor activism. Still, I hope to capture some of it by examining the top 10 headlines for internal auditing in the 2010s.