The Internal Audit Agenda - Hot Topics 2022

Original content provided by BDO UK.

The role of Internal Audit continues to be recognised as a fundamental part of enabling and embedding good governance. As the risk landscape changes, becomes more complex, and with increasing regulation, many organisations are looking to Internal Audit to provide 'assurance' and advice as 'risk and control' experts. This role has evolved over the past five years, increasingly to one in an advisory capacity – both protecting and creating value in the business.

Internal Audit has an opportunity to be a leader in this assurance agenda. We are in a privileged position to look across the risk landscape of an organisation and advise on the 'what', 'where', 'when' and 'how' of assurance needs. As the role of the 'second line' compliance functions grow, on the back of topics such as Protection of Personal Data Protection (“PDPL”, ESG and risk, ensuring that you have the right balance of assurance across the organisation will be critical.

Internal Audit teams will be thinking carefully about where they can best contribute to managing risk and supporting the success of their organisations. This document sets out some of the key areas that Internal Audit should be considering when thinking about that wider assurance landscape.

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