May 2026

riskoversight.ca · May 7, 2025 · Curated 2 months ago

AI Governance: To Policy or Not to Policy? Navigating AI Risks and Opportunities

Internal audit and assurance professionals are grappling with the rapid integration of AI. This article explores whether a dedicated AI policy is truly necessary, arguing that existing policies often cover AI-related risks. However, it also highlights the practical benefits of an AI policy as a clear communication tool for leadership's vision and to address emerging vulnerabilities, emphasizing the need for a pragmatic approach to AI governance.

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riskoversight.ca · May 16, 2026 · Curated 2 months ago

AI in Internal Audit: Beyond the Buzzword with Mike Levy

Mike Levy, founder of Cherry Hill Advisory, discusses the current state and future of AI in internal audit. He highlights the significant gap between perceived and actual AI adoption, emphasizing the need for internal audit functions to move beyond basic prompting to purpose-built solutions and a "build mindset." Levy stresses that true AI integration requires rethinking processes and embracing imperfection, rather than waiting for flawless AI tools.

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internalaudit360.com · May 28, 2026 · Curated 2 months ago

Internal Audit Confronts Rising Regional Compliance Divergence in Multinational Operations

Internal audit teams are increasingly challenged by the growing divergence in regional compliance requirements for multinational organizations. This shift necessitates a move from simply verifying policy adherence to evaluating an organization's ability to maintain operational alignment amidst fragmented global regulations, highlighting the critical need for enhanced governance consistency and dynamic risk assessment.

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linkedin.com · Curated 2 months ago

Relaunching the Larry B. Sawyer Internal Audit Foundation Project of the Year Award

Dr. Rainer Lenz suggests that The IIA relaunch the Larry B. Sawyer Internal Audit Foundation Project of the Year Award to complement the existing student scholarship. He highlights the award's timeless criteria and topics, emphasizing their relevance in today's rapidly evolving internal audit landscape. Lenz believes this award would encourage innovative thinking and strategic advisory roles within the profession.

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internalauditcollective.com · Curated 2 months ago

The Internal Auditor's Case of Mistaken Identity: Why Reporting to the CFO Undermines the Profession

This article argues that internal audit faces a significant identity crisis, often misunderstood as a finance-centric, compliance-focused function. The author contends that the prevalent administrative reporting structure to the CFO is a primary driver of this misperception, hindering internal audit's strategic value and independence. It calls for a shift towards CEO reporting and a broader, risk-based approach to elevate the profession's standing.

News & Blogs · North America Read more

fortune.com · Curated 2 months ago

AI Governance: Why Waiting is the Most Dangerous Mistake for Executives

The article emphasizes the urgent need for organizations to establish robust AI governance structures now, rather than waiting for perfect information or clearer use cases. Author Brandi Thomas argues that delaying AI governance is an abdication of responsibility, leading to significant risks and a loss of competitive advantage. She advocates for a senior, cross-functional AI Governance Committee with real authority to build an adaptive framework for both customer-facing and back-office AI applications.

News & Blogs · North America Read more

internalaudit360.com · May 28, 2026

Norman Marks Urges Internal Audit to Proactively Adapt to AI-Driven Business Evolution

Norman Marks emphasizes that internal audit must evolve beyond simply adopting AI tools. The core challenge lies in understanding and providing assurance over radically changing business processes and controls driven by AI and robotics. Internal auditors need to proactively engage with management's strategic roadmaps, identify emerging risks, and develop the necessary skills to audit these new technologies and their impact on the control environment, rather than waiting for failures to occur.

News & Blogs · Global Read more

internalaudit360.com · May 27, 2026 · Curated 2 months ago

Legal Department Tech Budgets Set to Double by 2028, Driven by AI Adoption

Legal departments are projected to double their technology budgets by 2028, primarily due to the rapid adoption of specialized AI platforms. This significant investment is driven by the promise of enhanced productivity, reduced reliance on external counsel, and improved compliance, offering internal audit professionals new avenues to assess efficiency, risk management, and data integrity within legal operations.

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linkedin.com · Curated 2 months ago

Revolutionizing Risk Assessments: A 5-Step Approach to Uncover New Risks

This article challenges the common audit practice of starting risk assessments by reviewing prior year documentation, arguing that this approach often leads to overlooking emerging risks. It proposes a five-step methodology that prioritizes identifying changes and drafting a new risk register before consulting past records, emphasizing the use of AI to facilitate this process. The author suggests this method helps auditors uncover new risks that are critical to an organization's audit committee.

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linkedin.com · Curated 2 months ago

12 Modern Internal Audit Capabilities: Beyond Software, Towards Execution

Munish Verma highlights 12 modern capabilities internal audit can leverage today, focusing on transforming audit execution rather than just the management software. These advancements, categorized across continuous assurance, recurring IT audits, risk-based audits, and compliance programs, aim to reduce manual effort and enhance the auditor's strategic role. The article encourages audit leaders to consider which of these capabilities their teams are already utilizing and which they aspire to implement.

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