Internal Audit Emerging Risks for 2021 and Beyond – Part 2

In Part one of this series devoted to evaluating internal audit focus areas and emerging risks for 2021 and beyond, we first examined three areas of focus and some of the most impactful risks that Internal Audit should focus on during the new normal.

• Heightened Focus on Organizational Resilience
• Elevated Macro Environment Uncertainty
• Humanization vs. Dehumanization of the Workforce

After reviewing these areas, we will then link them to identified “Hot Spot” topics as identified by the Gartner group that internal audit should be attuned to in 2021 and years forward. In part one we examined IT governance and data governance. With the evolving landscape, risks and economy that have been spurred on by the pandemic of 2021, internal auditors must look to stretch their skills to areas that are most valued by their organizations.

Today’s insight may well be tomorrow’s hindsight. Stakeholders seek to navigate the future more than revisit the past or dwell in the present. We need to concentrate on the risks of tomorrow if we are to not only protect but enhance value for our organizations. We must start looking beyond the horizon to identify emerging risks.