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Priorities for internal audit

ICAEW’s newest publication from the Internal Audit Panel looks to help heads of internal audit tackle issues related to data privacy and security issues. Peter Mandich gives a preview

Senior managers are rightly concerned about data privacy and security issues, including regulatory compliance with GDPR and ensuring adequate safeguards are in place to meet the transfer of EU data to the US under the Privacy Shield framework.

The growing use of technology has introduced a higher threat of breaches, misuse of customer data and reputational damage. But what happens when your organisation has a small or under-resourced internal audit team? How will it be able to cope with the assurance demands that are placed on it?

ICAEW’s Internal Audit Panel has produced a new publication to help heads of internal audit establish an effective and highly regarded function and develop its capabilities to meet its priorities in IT and in other areas. The paper looks at key challenges and makes recommendations to address each one, based on the views of 12 current and former heads of small internal audit teams.

This is an extract from the Business & Management Magazine, Issue 279, November 2019.

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Full article is available to Business and Management Faculty members and subscribers of Faculties Online.

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