This year the internal audit agenda for the financial services industry is more than a little crowded. Global macroeconomic uncertainty, rock-bottom interest rates, soaring regulatory expectations, cybersecurity threats and attacks, legacy information technology (IT) systems, fintech, blockchain and other disruptive innovations—and that’s before we even get to fulfilling the core mission of delivering effective assurance.
The message of the 2015 Global Internal Audit Common Body of Knowledge (CBOK) Stakeholder Study is clear: Assurance alone is no longer enough. Assurance remains at the core of the internal audit function—value-added work for stakeholders cannot detract from that. But survey respondents, which included executives and board members who work closely with internal auditors, indicated they want more.