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Internal audit faces more change, technology, papers say

Tammy Whitehouse | July 14, 2016

A pair of recent white papers by Big 4 firms suggest transformation for the internal audit profession is far from finished. In, fact, some of the biggest changes in store for the profession may still be around the bend.

EY focuses its attention specifically on internal auditors in financial services, where regulators and standard setters issued a bevy of guidance in the wake of the financial crisis to elevate the role of internal audit and better equip the profession to head off trouble in the future. The firm suggests while much progress has been made, much still remains to be done.

The EY paper points out a handful of indicators that big changes are still in store for the profession. Recent regulatory focus on strengthening corporate governance and risk governance at the board level is one such indicator. Regulatory changes continue to drive major changes in...

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