Technology has become a crucial tool for organizations, used in every aspect of their operations. The PwC 2023 Global Risk Survey reveals that 60% of business and risk leaders view one new technology tool, generative AI (GenAI), as an opportunity. However, 57% believe that preparing for investments in new technology is the main reason to assess risks. As organizations increasingly rely on technology, they face both new benefits and growing threats.
These risks are amplified as technology adoption becomes more widespread and critical. Internal audit plays a key role in helping organizations minimize these risks and maximize the value of new technologies. By determining the best strategies for implementing technology, internal audit can add significant value to the organization.
In order to support organizations in their technology adoption efforts, internal audit can take specific steps. These may include conducting thorough risk assessments, providing recommendations for risk mitigation, and monitoring the implementation of new technologies. By focusing on these areas, internal audit can help organizations navigate the complex landscape of technology risks and ensure successful adoption of new tools.