Traditional skills for internal auditors include accounting, compliance, fraud, and finance. While these skills remain vitally important today and more so tomorrow, for many organisations in the future these will not be enough.
In the constantly transforming business environment, many organisations are already looking for internal auditors with expertise in technical areas like data science, analytics, IT, cybersecurity, and privacy – GDPR and other various data protection and privacy laws presents many risks which were unknown just a few years ago.
This shift will require investment, both in terms of new talent and upskilling of existing members of the team. So, in addition to hiring professionals with specialised knowledge, companies will also invest in current employees, expanding their skills and expertise through training in these areas.
The seniority of talent will also shift further along the curve, reflecting the additional skills and experience that IA teams will need in the future. This will enhance the profile and influence of the team within the organisation.