A summary from across the web of 2022’s Internal Audit Hot Topic’s, Focus Area’s and Risk Priorities.
We have searched across the web; through each of the Big 4’s websites, through the IIA, and across thought leadership sites to find out what they all consider to be the top risk / focus areas for Internal Audit going into 2022.
Each year, these risk in focus / hot topics reports can prove to be an invaluable resource for many audit functions and show many upcoming or potential risks which Chief Audit Executives (CAE’s) and Audit Committees should be considering. You can see what the 2021 hot topics were by reading this blog post, or you can view the 2020 hot topics were by reading this blog post.
In this post, we will show you what the IIA, PwC, Deloitte, Protiviti and Gartner all consider to be the main focus areas for 2022.
The Institute of Internal Auditors released their Risk in Focus 2022 report back in September this year. You can read our review of the report here. Following a survey amongst a number of Heads of Audit, the report identifies the following top 10 risk areas which are on people’s minds going into 2022:
Deloitte has set out a list of planning priorities for Financial Services Internal Audit for 2022. Their website includes an interactive diagram which highlights both risk areas, but also improvement or focus areas specific to the internal audit team. The diagram is also a neat tool which could be presented to your audit committee and show which topics you have already covered (or plan to cover) through your audit work.
Deloitte has identified the following hot topics Internal Audit in Financial Services:
PwC have taken a different approach with this years list, focusing on high level future risks for companies in the financial services sector.
At a high level, PwC have identified the following macro risks:
PwC have then focused on a few thematic micro risks:
You can read the full 2022 Financial Services Horizon Scanning for Assurance Functions report here, and download specific financial services sector reports for more detail.
Protiviti have pulled together a range of Internal Audit, Risk, Business & Technology Consulting 2022 Regulatory Hot Topics considerations for Internal Audit.
The eight hot topics identified by Protiviti include:
Gartner seems to reiterate and consolidate everything each of the above reports have called out as a specific focus area for 2021. Gartner’s Hot Spot summary includes the following:
You can view the full Gartner 2021 Audit Plan Hot Spots Report here. Please note, you do need to register to view this report.
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