From Innovation to Regulation: How Internal Audit Must Respond to the EU AI Act

The EU AI Act, set for full enforcement by 2026, introduces the world's first comprehensive regulatory framework for artificial intelligence, classifying AI systems by risk level. This legislation has extraterritorial reach, impacting organizations globally, not just within the EU. Internal audit functions must proactively adapt to this new regulatory landscape by building AI literacy, integrating AI risk into audit planning, and developing methodologies to ensure compliance and effective AI governance.