IIA Singapore's AI Survey Results on the Impact of AI on Corporate Governance, Risk Management and Internal Audit
In celebration of Internal Audit Month, IIA Singapore hosted a second webinar on 22 May 2025 featuring Edwin Hooi, Director, Risk Advisory at Nexia Singapore, and Uantchern Loh, Chairman (Asia Pacific) at Black Sun Global. The session unpacked key findings from IIA Singapore’s latest AI Survey, providing insights into how AI is reshaping corporate governance, risk management, and internal audit.
The survey, conducted in February 2025 with 190 respondents primarily from Singapore, showed rapid AI adoption that is outpacing governance readiness.
Specifically, 40% of organisations reported limited AI use, 39.5% moderate, and only 10% extensive adoption. However, a significant knowledge gap remains, with 34.9% of respondents unsure about AI’s impact on decision-making, while 52.1% express uncertainty over changing stakeholder expectations. Additionally, 39.5% of organisations have yet to begin auditing AI, and 45.2% report no training related to AI auditing.
The survey findings show that 54.2% of respondents believe traditional risk-based audit methods remain relevant, and 48.4% consider AI-related audit challenges manageable. The session emphasised that navigating the AI era requires more than enthusiasm. It demands responsible governance, evolving skillsets, and early, strategic involvement from internal audit teams to effectively manage both opportunities and risks. This proactive approach is essential to build trust, ensure accountability, and realise AI’s full potential in business operations.
IIA Singapore recognises the growing importance of AI and will be organising an AI Symposium on 29 July 2025 to further explore AI’s role in corporate governance and audit. This event, alongside related data analytics and AI courses, offers members and professionals valuable opportunities to deepen their understanding and enhance their preparedness.
