Are the profession and the IIA at a crisis point?

The article discusses concerns about the current state and future direction of the internal audit profession and the Institute of Internal Auditors (IIA), referencing survey data from the IIA's Vision 2035 that highlights a negative perception of internal auditors as enforcers rather than dynamic advisors. It argues that internal audit must evolve to address rapidly changing technology and increasing risk complexities, urging a shift in mindset and a greater focus on enterprise risk-based auditing and proactive, advisory services. The author criticizes traditional practices and standards for being too focused on auditing processes and conformity and advocates for more innovative, flexible guidance that emphasizes providing meaningful assurance and advice to help organizations succeed. The discussion includes contrasting viewpoints about internal audit’s involvement in advisory work versus its traditional assurance role but agrees on the need for the profession to adapt and engage more closely with technology and organizational strategy to remain relevant.