Security News > 2021 > November > Internal audit leaders expect new risks to emerge post-pandemic

COVID-19 stretched organizational resources and unleashed new risks on a global basis, prompting an ongoing pivot by internal audit departments to address the evolving challenges, according to a survey by AuditBoard.

"COVID-19 created what is arguably the greatest disruption for organizations as well as for internal auditors, due to their enterprise-wide role," said Richard F. Chambers, AuditBoard Senior Internal Audit Advisor, who authored the report.

"The pandemic heightened risks in virtually every facet of enterprise operations. We're glad to see that internal auditors have met many of the challenges through transformation and resiliency."

The survey shows that internal audit is responding to existing and new challenges by increasing resources, a trend that's expected to continue through at least 2025.

In 2021, twice as many internal audit leaders reported increased budgets compared with those seeing declines, and nearly three times as many increased staff as decreased staff.

51% of internal audit leaders hired remote staff during the past 18 months, while 26% saw their team members "Poached" by other organizations.

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