Blog: The Challenges to Internal Audit in a Zettabyte World

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:

The long-promised next generation of mobile connectivity, known as 5G, will soon be reality, with some experts predicting a quantum leap in the technology in as little as two years. Hans Vestberg, CEO of Verizon Communications, put the impact of 5G on the world in perspective when he spoke recently at the 2019 CES conference in Las Vegas. “5G will change everything,” he said.

The next generation of mobile technology will go a long way toward delivering on the promise of a fourth industrial revolution. The first industrial revolution was driven by steam and mechanization, the second by electricity, and the third by digitalization and computers. The fourth will be about connectivity.

It is hard to grasp the enormity of what 5G can mean to the volume of data that will be available to organizations. But it is easy to predict that organizations will try to leverage this powerful new business tool. And that creates a classic risk/opportunity conundrum. Collecting, analyzing, understanding, managing, protecting, and auditing today’s data already poses problems for many organizations. Imagine what it will be like when data streams expand exponentially. Cybersecurity challenges, already a significant concern for organizations, will grow as more data pours in. Complicating the issue further is the burgeoning global data privacy movement. Even in the most positive light, 5G will be a massive technological disruptor and require organizations to rethink how they gather, use, and protect data.

Read the full InternalAuditor.org blog post from IIA President and CEO Richard Chambers.