Internal audit in local government: Time to lead, not linger

The article highlights that internal audit in local government has faced challenges like lack of external oversight and inconsistent quality since the Audit Commission was abolished, yet it can be transformative when empowered and trusted. It stresses adopting new standards such as GIAS and CIPFA, moving to risk-based and agile audit practices, and considering a national oversight body to foster innovation and improvement. Additionally, investing in people, technology, and building strong relationships is key to making internal audit a driver for better governance and stronger public services.

Poor Data Readiness Is Plaguing Corporate AI Projects

Nearly half of all corporate AI projects fail or underperform due to poor data readiness, leading to increased costs, lost revenue, and stalled innovation. Despite efforts to centralize data, many organizations struggle with pipeline maintenance, integration complexity, and lack of real-time data access, causing widespread project delays and operational setbacks. The survey highlights urgent needs for automated data integration tools, with regional leaders such as Asia-Pacific outperforming others, while sectors like finance and manufacturing lag due to legacy systems and fragmented infrastructure.

A Utility Player Mindset: The Power of Rotation Programs in Internal Audit

This article compares internal auditors to baseball utility players, emphasizing the value of adaptability and broad business knowledge. It highlights how structured rotation programs—such as outbound, inbound, cross-audit, and project-based assignments—help auditors gain diverse experience, spot risks more effectively, strengthen relationships, and prepare for leadership roles. While these programs require careful planning to manage talent gaps, role clarity, and cultural resistance, they ultimately build stronger risk cultures, enhance collaboration, and create more resilient and future-ready audit teams.

IndusInd Bank Appoints New Internal Audit Head Months After Massive Accounting Discrepancy Row

IndusInd Bank has appointed Pragati Gondhalekar as its new head of internal audit amid efforts to rebuild governance and controls following a major accounting scandal. The bank had faced a ₹2,000-crore derivatives-related loss and further issues in its microfinance portfolio, leading to record losses and the resignation of senior leaders earlier this year. Alongside Gondhalekar’s appointment, the bank is also filling other key leadership positions after recently naming Rajiv Anand as its new CEO and MD.

PSASB - Internal Audit Templates

The Public Sector Accounting Standards Board (PSASB) in Kenya mandates the prescription of internal audit procedures aligned with the International Professional Practice Framework (IPPF) to promote good governance, internal controls, and risk management in public sector entities. The PSASB has updated internal audit templates to comply with the Global Internal Audit Standards effective January 2025, including templates for audit charters, strategic plans, and audit plans. These templates help internal auditors implement best practices consistently within the public sector

Internal Audit 2035: Charting the Future of a Rapidly Changing Profession

The article "Internal Audit 2035: Charting the Future of a Rapidly Changing Profession" underscores the evolving role of internal auditors from traditional assurance providers to strategic advisors who help shape organizational futures by 2035, driven by rapid changes in technology, regulations, and global risks. It highlights key areas for internal audit transformation, including routine adoption of advanced technologies like AI, expanding skill sets beyond traditional finance backgrounds to include cybersecurity and ESG, and increasing involvement in advisory and strategic decision-making. The article also stresses overcoming outdated perceptions of internal audit as a policing function, building a stronger talent pipeline, fostering recognition and motivation among auditors, and embracing a forward-leaning mindset to thrive in an increasingly complex business environment.

Survey Finds Misalignment Between Top Risks and Internal Audit Efforts

An AuditBoard report reveals a significant misalignment between the top risks faced by organizations—such as cybersecurity and changing economic conditions—and the limited resources internal auditors have to address these vulnerabilities, with most expecting stagnant or reduced headcount in 2025. Adoption of generative AI in internal audit remains slow, with only 4% reporting substantial progress, and many organizations are not ready to comply with new global audit standards by the January 2025 deadline. The report also highlights opportunities for improvement, such as greater collaboration between governance teams and strategic use of technology, to address audit fatigue and close coverage gaps

10 Red Flags Your Internal Audit Function May Be Losing Ground

The article lists ten key warning signs that an internal audit function may be losing influence or relevance, including static audit plans, stakeholder-led risk identification, peer comparisons, overdue quality assessments, and unilateral budget cuts. It emphasizes that ignoring these red flags can undermine both the internal audit’s effectiveness and the career trajectory of chief audit executives, recommending proactive strategies—like dynamic risk assessments and greater stakeholder engagement—to address each issue. In the face of disruption and change, maintaining audit independence, showcasing value, and adapting to evolving risks are portrayed as critical for sustaining credibility and support.

Why Audit is a Strategic Asset for CDOs

Internal Audit's Awesome Opportunity - Connected Risk

[Tom O'Reilly](https://www.linkedin.com/in/tomoreilly/) has thoughts on Internal Audit's opportunity to lead organizations toward a more integrated and effective approach to risk management through "connected risk" strategies. By breaking down silos, sharing risk data, and collaborating across departments, internal audit can become a catalyst for enterprise-wide assurance and decision-making while alleviating resource constraints. The article highlights that starting small with quick wins, fostering cross-functional engagement, and advocating for centralized risk management are key steps for internal auditors to demonstrate value and drive positive change in their organizations.