Seventy percent of internal audit leaders said their department’s focus on innovation and transformation increased in the last year with greater investment in technology and data analytics, while 74% were involved in significant transformation programmes, according to Protiviti’s 2022 Next-Generation Internal Audit Survey.

This marks a change in internal audit which traditionally has struggled to allocate time and resources to innovate their processes, putting them at risk of falling behind in skills, methodologies, and use of data and technology.