Top Risks for 2025 — And How to Manage Them Effectively
As we head into the middle of the 2020s, internal audit faces an inflection point. The incredible level of disruption has left teams scrambling to manage risks.
Internal auditors have an opportunity to drive real change and value for their organizations — but many are not quite there yet. AuditBoard surveyed over 375 audit leaders and found several key gaps in areas such as implementing and understanding AI (61% report a lack of understanding or expertise as a barrier to implementation), readiness to conform with the updated IIA Standards (35% expect to miss the January deadline), and developing strategic plans (57% report a range of impediments to strategic planning, from “uncertainties about the future” to “lack of experience”).
Additionally, many CAEs continue to report more optimistic outlooks for budget and staffing than play out in reality, as well as potential misalignment between top-rated risks and planned audit effort towards those risks.
2025 Focus on the Future: Inflection Point for Transformation at Mid-Decade examines these trends and outlines a path forward for internal auditors to be catalysts for transformation at this pivotal moment.
Download your copy of the annual report to learn more about:
- Top-ranked risks for 2025 — and how they compare to previous responses.
- Internal audit’s use of generative AI, as well as assurance over AI risks.
- Levels of readiness for IIA Standards conformance and common barriers to meeting the requirements.
- Expected audit effort in key areas, including a pattern of ongoing misalignment between top risks and the effort put towards them.
- Optimistic talent and budget forecasts that have not kept pace with actual outcomes.
- Future-focused auditor tips for learning about and implementing AI; improving your strategic planning process; planning for technology use; implementing continuous monitoring; and more
Even better: this guide includes a comprehensive six-step planning checklist that covers the full audit planning process. Get your copy today!
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