The volume, magnitude and speed of the technological changes underway in organizations today continue to increase in dramatic fashion, from business and digital complexity of data management. Many of these changes give rise to new risks, which ultimately demand more from IT audit groups: more knowledge, more skills and training, more advanced auditing technology approaches, more resources, and more interaction between the IT audit function and other business leaders, executives and board members.
The results of the latest global IT Audit Benchmarking Study from ISACA and Protiviti paint a vivid picture of the ways IT audit leaders and professionals are succeeding, as well as where they need to “step up their games,” especially given the omnipresent nature of digital transformation efforts, cyber security risk and technological advancements. This year’s results identify several areas of progress; however, there is still work to be done in order for IT audit functions to deliver the strategic insights and real-time risk advances key stakeholders expect, and also help their organizations address the transformation of legacy technologies and the rapid rise in the number and severity level of cyber security risks.
Our Key Findings:
- Digital transformation and cyber security are influencing IT audit plans significantly.
- There is greater visibility and awareness of IT audit’s role and responsibilities.
- More partnering and collaboration are needed to counteract silo mindsets and behaviors.
- IT audit needs to move the needle in boosting engagement with major technology projects.
- Co-sourcing is on the rise, reflecting ongoing resource challenges.