May 2026

cfo.com · Curated 2 months ago

Internal Audit Functions Face Budget and Headcount Cuts, Emphasizing Strategic Alignment

A new report from the Internal Audit Foundation reveals a concerning trend: internal audit functions are experiencing significant budget and staffing reductions. The annual North American Pulse of Internal Audit Survey indicates that nearly one-fifth of IA departments saw budget cuts in 2025, with a similar percentage reporting staff reductions. The findings highlight the critical importance of aligning internal audit priorities with overall organizational strategy to secure necessary funding and resources.

News & Blogs · North America Read more

newtimes.co.rw · Curated 2 months ago

Internal Audit: An Essential Pillar for Organizational Resilience and Integrity

The Institute of Internal Auditors has designated May as Internal Audit Awareness Month, highlighting the critical role internal audit plays in organizational success. This article emphasizes that internal audit is not merely an option but an essential function that protects revenue, ensures compliance, and fosters an ethical culture. It also addresses the challenges faced by internal auditors and the crucial support needed from stakeholders to maintain their effectiveness and independence.

News & Blogs · Sub-Saharan Africa Read more

msudenver.edu · Curated 2 months ago

MSU Denver MPAcc Students Excel at IIA Global Student Conference

Six graduate students from MSU Denver's Master of Professional Accountancy (MPAcc) program, supported by the IIA Denver Chapter, participated in the IIA Global Student Conference. They engaged in sessions on career development and risk management, with two teams achieving 4th and 5th place in the Internal Audit Case Study Competition. Professor Jo Erven also presented on MSU Denver's unique experiential learning model, where students serve as the university's internal audit function.

News & Blogs · North America Read more

prnewswire.com · Curated 2 months ago

IIA Urges Stronger Governance, Internal Controls, and Independent Audit for Prediction Markets

The Institute of Internal Auditors (IIA) has called on U.S. policymakers and regulators to implement robust governance, internal controls, and independent internal audit requirements for the burgeoning prediction market industry. In letters to the CFTC and Congressional leadership, the IIA highlighted risks such as insider trading and market manipulation, advocating for frameworks that ensure consistent testing and enforcement of controls through independent assurance. This initiative aims to safeguard public trust and align prediction markets with established financial market standards.

IIA & Standards · North America Read more

wolterskluwer.com · Curated 2 months ago

Data Privacy vs. Data Security: A Critical Distinction for Internal Auditors

This article clarifies the crucial differences between data privacy and data security, emphasizing why internal auditors must understand both to effectively manage risk and ensure compliance. It highlights that while distinct, these two concepts are interdependent, with security forming the foundation for privacy. The piece stresses the evolving role of internal audit from mere compliance checking to strategic risk advisory in the face of increasing data volumes and regulatory complexities.

News & Blogs · Global Read more

optro.ai · Curated 2 months ago

Internal Control Failures: A Wake-Up Call for Internal Audit and Boards

A recent report by the Chartered Institute of Internal Auditors (CIIA) highlights a significant number of internal control failures within the UK financial services sector, leading to over £1 billion in fines. The report identifies recurring issues such as weak financial crime controls, poor governance, ineffective Three Lines Model implementation, data weaknesses, and a failure to remediate known problems. This analysis serves as a critical call to action for internal audit functions, boards, and audit committees to enhance their oversight and effectiveness in preventing such systemic breakdowns.

News & Blogs · Global Read more

internalauditcollective.com · Curated 2 months ago

Navigating Tariff Audits: A Guide for Internal Audit Professionals

Tariffs are increasingly impacting businesses, leading to significant financial costs and compliance challenges. This article, based on an Internal Audit Collective roundtable, provides internal auditors with insights into understanding tariff-related risks and outlines potential audit projects to address this evolving landscape. It emphasizes the importance of cross-functional collaboration and proactive engagement from internal audit teams.

News & Blogs · North America Read more

internalauditcollective.com · Curated 2 months ago

Leveraging LinkedIn for Stronger Internal Audit Relationships

This article highlights the critical role of relationship building for internal audit teams and how LinkedIn can be a powerful tool to foster these connections. It emphasizes moving beyond the 'corporate police' perception to become trusted business advisors by actively engaging with stakeholders. The piece outlines a four-step strategy, inspired by 'LinkedIn Larry' Kaufman, to optimize LinkedIn profiles, share expertise, conduct pre-meeting research, and continuously expand professional networks.

News & Blogs · North America Read more

internalauditcollective.com · Curated 2 months ago

Auditing Go-to-Market Activities: A New Frontier for Internal Audit

This article from the Internal Audit Collective advocates for internal audit teams to expand their scope to include Go-to-Market (GTM) activities, such as sales, marketing, and customer experience. It highlights the significant value internal audit can provide by offering independent assurance and advice in these critical revenue-generating areas, which are often overlooked in traditional audit plans. The piece offers practical guidance on how to identify opportunities, gain buy-in from leadership, and deliver impactful advisory projects.

News & Blogs · North America Read more

internalauditcollective.com · Curated 2 months ago

Why AI Adoption Lags in Internal Audit and How to Accelerate It: Survey Insights

A recent survey by the Internal Audit Collective reveals surprisingly low AI adoption among internal auditors, even within high-performing teams. Less than 25% of respondents extensively use AI, with key barriers identified as lack of skills, foundational governance, and bandwidth. The article explores these challenges and offers strategies for internal audit functions to overcome them, emphasizing the importance of controlled environments, quick wins, and a shift in mindset towards experimentation and consistent, standardized AI integration.

News & Blogs · North America Read more