（2007）KPMG-Internal Audit of the future.pdfVIP

FINANCIAL SERVICES Internal Audit of the Future Financial Institutions Look Ahead ADVISORY Internal Audit of the Future: Financial Institutions Look Ahead 1 Internal Audit of the Future Foreword expectations. Ingo Walter, professor at Internal Audit faces new challenges New York University’s Stern School of in today’s business environment. Business, opened the discussions with a Shareholders are demanding growth, focus on the challenges that face the regulators are expanding their scope of financial services industry in today’s “Internal audit has gone from the scrutiny, and new markets are constantly market. Participants considered how backwater—from an inspection- focused, box-ticking environ- developing and evolving. To add value internal audit might evolve to help senior ment—and is now on a massive during rapidly changing times, internal management meet those new chal- journey to meet new challenges. audit needs more than ever to under- lenges and add value, especially as busi- What should our function be? If stand its role, prioritize its efforts, and ness conditions and organizations we