Internal audit can help assess how changes made in response to COVID-19 have altered risks and impacted internal control.
Crisis situations create new needs, solutions, and risks. To perform well during the current pandemic, businesses continue to introduce new systems and delivery models that may bring unintended risks, including the risk of fraud. These rapid changes to the internal control environment run the gamut from changes to regulations, to governance, to business models, to staffing needs. For some organizations, these changes may create new or intensified material risks.