Here is brief look at issues facing internal audit departments across the world .

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© 2014 IBM Corporation
Internal Audit Trends/Outlook – 2018
by: Paul Young, CPA, CGA – OOF/Risk
Analytics Proven Practice Adviser

2. © 2012 IBM Corporation2
Agenda
• Overview
• 5 year outlook for Internal Audit
• Top Three Risk Areas
• IBM Solutions / Internal Audit

3. © 2012 IBM Corporation
Internal Audit / Overview
September 9,
2014
• Overview Internal Audit Department
• External vs- Internal Audit – Cost of Compliance
• More and more regulatory requirements
• Proactive auditing (Triggers)
• Cyber security
• Supply Chain Management

4. © 2012 IBM Corporation
Internal Audit Department
September 9,
2014
• t
• Many companies do not have audit departments
• External Audit Firms do testing in areas like Sarbanes-Oxly and other
regulations
• Companies are starting to assess the need for Internal Audit Department
• Threats from Cybersecurity
• Operational Risk
• Internet of Things
• Big Data

5. © 2012 IBM Corporation
Internal Audit / Outlook
September 9,
2014
Source - https://www.pwc.ch/en/publications/2018/state-of-internal-audit-
onepager-8.pdf

6. © 2012 IBM Corporation
KPMG – Top 10 Audit Risk Areas
September 9,
2014
Source -
https://home.kpmg.com/cn/en/home/insights/2017/03/kpmg-
internal-audit-top-10-considerations-for-2017.html

7. © 2012 IBM Corporation
Factors that are Driving Operational Risk
September 9,
2014

8. © 2012 IBM Corporation
Complexity of regulations
September 9,
2014

9. © 2012 IBM Corporation
Cybersecurity Risks
September 9,
2014

10. © 2012 IBM Corporation
Solutions
September 9,
2014
• IBM Internal Audit Management - https://www.ibm.com/us-
en/marketplace/openpages-internal-audit-management
• Planning Analytics - https://www.ibm.com/ms-en/marketplace/planning-
and-analytics
• Cognos Controller - https://www.ibm.com/us-en/marketplace/auditable-
financial-consolidation
• Watson Analytics - https://www.ibm.com/watson-analytics