Cherry Hill Advisory and Canisius University Launch AUDIT Lab to Advance Internal Audit and AI
Cherry Hill Advisory, in collaboration with Canisius University and Aletheia Research Institution, has launched the AUDIT Lab. This initiative aims to advance the internal audit profession by providing practitioner-focused research and data-driven insights, particularly in the areas of artificial intelligence and risk. The lab will bridge the gap between academic rigor and real-world advisory expertise to support chief audit executives and risk leaders.
Bridging Academia and Practice in Internal Audit
The newly launched AUDIT Lab, a joint venture between Cherry Hill Advisory, Canisius University, and Aletheia Research Institution, represents a significant step towards integrating academic research with practical internal audit insights. This collaboration is designed to produce concise, data-driven research briefings and reports specifically tailored for Chief Audit Executives (CAEs), audit committees, boards, and risk leaders. By combining the structured research environment of a university with the real-world experience of practitioners, the AUDIT Lab seeks to offer a unique and valuable resource to the internal audit profession.
Focus on AI, Technology, and Talent Development
A core focus of the AUDIT Lab's research will be on the intersection of artificial intelligence and internal audit. This includes analyzing AI adoption, governance controls, oversight frameworks, and the ethical risks associated with automation and large language models. Beyond AI, the lab will also evaluate broader internal audit and risk technology innovations, aiming to modernize audit methodologies, enhance risk assessments, and develop technology-enabled audit workflows. Furthermore, the initiative recognizes the critical need for talent development, aligning academic programming and leadership pathways to ensure the long-term sustainability of the internal audit workforce.
Advancing Professional Standards and Collaboration
The AUDIT Lab is committed to advancing professional standards and is actively seeking collaboration with the Internal Audit Foundation, including pursuing recognition under the Institute of Internal Auditors' Internal Audit Academic Alliance program. This strategic alignment underscores the lab's dedication to research excellence and internal audit education. Mike Levy, CEO of Cherry Hill Advisory and Principal Investigator for the lab's INTERNAL AUDIT Initiative, emphasizes the objective to advance internal audit through credible research, technology insight, and practitioner execution, creating a novel structure that combines academic rigor with industry leadership.
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