Editor's Note: It's a Lot
Articles Anne Millage Dec 12, 2022
Is anyone else tired? Whew, 2022 has been a doozy. From staffing struggles, to supply chain issues, to new work environments, the struggle is real — for both employer and employee.
In this issue of Internal Auditor, we consider just a few of the challenges organizations have had to address in 2022 — and will likely continue to struggle with in 2023. The issues are broad in scope and global in nature, with few companies left untouched. The good news is internal auditors are here to help, and we explain how in the following pages.
Ongoing talent management challenges are happening worldwide. As the “Great Resignation” and “quiet quitting” phenomena continue, employers are being reminded of the fragility of their relationships with their employees, writes Judy Warner in “Winning the Talent Game” on page 34. Is the human capital audit the next big thing in 2023?
Meanwhile, data privacy rules have evolved from only trying to protect data from potential breaches to understanding why organizations have so much information in the first place and whether it was gained legally. Internal audit has an important role to play here as well in helping ensure effective data governance (read “Start Here” on page 46).
Not everyone follows the rules, and as the world emerges from the pandemic, issues such as inflation, cost of living, and changing work practices have created a heightened prospect for fraud occurring. Factors driving fraud risk — opportunity, rationalization, and pressure — have created optimal conditions for wrongdoing. Read where internal audit fits in with fraud risk management in “Fraudit” on page 52.
In this issue, we also dive into public sector issues. As trust in public sector institutions wanes, governments continue to struggle with ensuring equity in the services they provide to their citizens (read “(Re)Created Equal” on page 40). The IIA’s Pam Stroebel Powers, public sector director of professional guidance, explains how some government auditors in the U.S. are helping change underlying issues by including equity factors in audits.
Oh, and did I mention the crumbling infrastructure around the world? The risk of costly overruns and delays in big-budget infrastructure projects is growing, and Subhasis Sen explains internal audit’s crucial role in providing assurance that infrastructure outlays deliver value for money in “Signs of the Times” on page 64.
No, the sky is not falling … but only because internal auditors are doing an excellent job of holding it up. Kudos to all of our readers doing their part to ensure better business and a better world. Here’s to a bright and prosperous 2023.