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New Internal Audit Foundation Survey Finds the Internal Audit Profession Growing in North AmericaLAKE MARY, Fla., March 11, 2024 /PRNewswire/ -- The results of The 2024 North American Pulse of Internal Audit Survey, released today by the Internal Audit Foundation, find a growing profession, with Chief Audit Executives (CAEs) more than twice as likely to have increased staff (26%) than to have decreased staff (9%). Additionally, after sharp cuts due to the COVID pandemic in 2020 and 2021, significantly more internal audit functions are now increasing their budgets (36%) than are decreasing them (13%), according to the new survey of senior internal audit professionals. "In today's evolving risk environment, it's crucial for organizations to allocate more resources to their internal audit functions," said Anthony Pugliese, CIA, CPA, CGMA, CITP, President and CEO of the Institute of Internal Auditors (The IIA). "Internal audit teams need adequate support to provide objective assurance and help manage risks effectively. As businesses embrace advanced technology for competitive advantage, internal audit leaders play a vital role in ensuring companies understand and address risks through robust internal controls." The survey found internal audit teams place high priority on cybersecurity and IT audits, which combine for nearly 20% of audit plans. That's compared to operational auditing (17%), compliance (14%), and financial reporting (14%). "This year's survey results revealed some very interesting takeaways, including increased investment in technology, growing gender parity in the profession, and generational differences in approaching remote work," said Pugliese. "These results point to a dynamic and evolving profession." Artificial Intelligence "The IIA's Pulse survey serves as an annual snapshot of what the profession is focused on at a given moment in time," said Harold Silverman, CIA, CRMA, QIAL, CPA, Senior Director – CAE and Corporate Governance Engagement, IIA. "In addition to providing historical benchmarks that allow CAEs to identify trends over the course of years, each report explores prominent topics impacting organizations and how internal audit teams are approaching them." Additional Findings
The IIA thanks AuditBoard, Deloitte, and Grant Thornton for their support of the Internal Audit Foundation and for their help making the 2024 Pulse report possible. Download the full Pulse Survey report. Methodology The IIA's annual Pulse report, published by the Internal Audit Foundation, provides benchmarks to help leaders plan and manage internal audit functions. With survey data going back to 2008, Pulse reports speak to current conditions and long-term trends for internal audit budgets, staff, audit plans, risk assessments, and more. About the Internal Audit Foundation About The Institute of Internal Auditors and the Internal Audit Profession The Institute of Internal Auditors (The IIA) is an international professional association that serves more than 245,000 global members and has awarded more than 195,000 Certified Internal Auditor (CIA) certifications worldwide. Established in 1941, The IIA is recognized throughout the world as the internal audit profession's leader in standards, certifications, education, research, and technical guidance. For more information, visit theiia.org. View original content to download multimedia:https://www.prnewswire.com/news-releases/new-internal-audit-foundation-survey-finds-the-internal-audit-profession-growing-in-north-america-302083390.html SOURCE The Institute of Internal Auditors |