IIA Canada National Conference 2022

2.5 Roadmap Navigating Today’s Waters: Spot unusual activity patterns & prevent recurring trends

18 Oct 2022
11:25 - 12:15
DAY 2 - TRACK 2 - SESSION 5

2.5 Roadmap Navigating Today’s Waters: Spot unusual activity patterns & prevent recurring trends

Level: Intermediate

Take an interactive and immersive journey with us into the future, charting the course for tomorrow and preparing your internal audit toolkit to be future ready. As leaders explore the possibilities of what’s to come and prepare to be ready to adapt accordingly, the need for Internal Audit to continue to challenge management and provide advice on creating an optimal balance between business or operational needs, adequacy of control, and risk exposure is crucial. This goes beyond the financial reporting and accounting process, and encompass recent risks and trends embedded in ongoing operations of the organization.

The hybrid and/or remote working environments have increased existing digital and fraud risks while introducing new ones where tough decisions have to be made at a moment’s notice, usually at pace, with limited information and in a manner consistent with ethical principles. The latest trends demonstrated that the efficiency and effectiveness of these response decisions will be paramount in 2022 and beyond. Threats flourish when people are most vulnerable and enterprise risks are compounded under significant change and substantial pressures resulting in reduced efficacy of controls, inconsistent business practices, a heightened danger of outsiders taking advantage, and organizations unable to sustain the increased reliance on digital and technology transformation while balancing the need to create operational resilience-by-design and adopting enhanced regulatory and insurance requirements.

Hence, the presentation will tie into conversations by internal auditors and leadership on both of the chosen topics of fraud and ethics.