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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.

Learning Objectives

  • Explore and examine Cyber Vulnerabilities and identify internal audit focus areas.
  • Discover and evaluate Business Continuity Disaster Recovery and determine internal audit focus areas.
  • Identify and understand talent resilience and apply the concept to internal audit and the organization.
  • Recognize and evaluate Corporate Social Responsibility and understand areas internal audit can provide value.
Last updated/reviewed: June 15, 2021

Included In Certifications

This course is included in the following Certification Programs:

28 CoursesInternal Audit Certificate

  1. Internal Audit Standards Overview
  2. Internal Audit Standards - Managing Internal Audit Work
  3. Internal Audit Standards - Executing the Audit Engagement
  4. Identifying and Implementing the Proper Balance of Internal Controls
  5. Documentation Methods For Internal Control Processes
  6. Segregation of Duties for Core Business Processes
  7. Foundations for a Strong Internal Audit Department
  8. Internal Audit Management - Top Skills
  9. Internal Audit: Keys to Managing an Effective Function
  10. Understanding Risk-Based Auditing
  11. Risk Based Auditing – Establishing a Methodology
  12. Risk Based Auditing – Applying the Methodology
  13. Cyber Risk Frameworks And Concepts
  14. Information Technology (IT) Risks in Emerging Business Environments
  15. Fraud Risk Assessments
  16. Professional Skepticism - Keys to Maintaining
  17. Introduction to Forensic Accounting
  18. The Fraud Triangle
  19. Internal Audit Effective Relations with the Audit Committee
  20. COSO 2013 Overview
  21. COSO 2013 - Operational Execution
  22. Internal Audit Emerging Risks for 2021 and Beyond - Part 1
  23. Internal Audit Emerging Risks for 2021 and Beyond - Part 2
  24. Internal Audit Emerging Risks for 2021 and Beyond - Part 3
  25. Internal Audit Emerging Risks for 2021 and Beyond - Part 4
  26. Internal Audit Challenges During Times of COVID
  27. Tools for Internal Control Certificate
  28. Lessons of an Auditor- Tools for Internal Control Certificate

3 Reviews (18 ratings)Reviews

4
Anonymous Author
This course provides a good understanding of cyber risks and the need for a Business Continuity Disaster Recovery plan that is well developed, monitored, and updated.
5
Member's Profile
This course provided timely information that is very helpful to the internal auditor. I look forward to the next two parts!
5
Anonymous Author
The course provides valuable insights on recent internal audit emerging risks.

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course. However it is recommended to take other Internal Audit Emerging Risks for 2021 and Beyond course series by Lynn Fountain.
Internal Audit Emerging Risks for 2021 and Beyond - Part 1
Internal Audit Emerging Risks for 2021 and Beyond - Part 3
Internal Audit Emerging Risks for 2021 and Beyond - Part 4

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  4:49Introduction to Internal Audit Focus and Emerging Risks 2021 and Beyond-Part 2
  13:22Cyber Vulnerabilities
  10:44Cyber Vulnerabilities Continued
  13:55Cyber Risks
  11:02NIST Framework
  8:20NIST Framework Continued
  10:32Business Continuity Disaster Recovery(BCDR)
  8:28Business Continuity Disaster Recovery(BCDR) Cont'd
  12:29Talent Resilience
  10:48Corporate Social Responsibility
  2:00Summary
CONTINUOUS PLAY
  1:46:28Internal Audit Emerging Risks for 2021 and Beyond - Part 2
SUPPORTING MATERIAL
  PDFSlides: Internal Audit Emerging Risks for 2021 and Beyond - Part 2
  PDFInternal Audit Emerging Risks for 2021 and Beyond - Part 2 Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM