Internal Audit: Vision 2035 – Creating Our Future Together
On 7 November 2024, over 200 professionals attended the “Internal Audit: Vision 2035 – Creating Our Future Together” webinar, where Helen Li, Group Chief Auditor at The Bank of East Asia Limited, shared her insights on the future of internal auditing. This webinar was based on findings from the Internal Audit: Vision 2035 -Creating Our Future Together report, a comprehensive global research project conducted by IIA Global.
The report highlights the critical need for internal auditors to adapt to technological advancements and expand the scope of their services and take on a more strategic advisory role within organisations to stay relevant in the rapidly evolving business landscape. Key themes from the report that were discussed in the webinar included the accelerating impact of artificial intelligence, data analytics, and other digital tools in transforming how internal audits are conducted. Helen emphasised that auditors must harness these technologies to enhance efficiency, improve risk management, and enable more strategic decision-making.
A core focus of the discussion was the expanded role of internal auditors beyond traditional assurance services. Internal audit functions are increasingly expected to act as trusted advisors, providing insights on broader governance and strategic risks, thus driving value in organisations.
The webinar also addressed the challenges and opportunities posed by these changes, urging internal auditors to embrace a forward-thinking approach and invest in continuous professional development. As outlined in the report, staying adaptable and prepared for future technological disruptions is essential for the internal audit profession to thrive in the next decade.
