2024 Internal Audit Priorities Survey Reveals Technology and Cybersecurity as Top Concerns Amidst Rising Generative AI Adoption

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Jefferson Wells, part of ManpowerGroup (NYSE: MAN), has released its 2024 Internal Audit Priorities Survey. The survey highlights cybersecurity and Generative AI as top concerns for internal audit leaders. Key findings include:

- Only 26% of organizations have fully integrated Generative AI standards into their governance framework
- 37% of organizations plan to increase staff to meet demand for technology skills
- Business transformation and IT deployment risks require advanced skillsets in cybersecurity, data analytics, IT audit, and Generative AI

Tim Lietz, National Practice Leader for Risk & Compliance at Jefferson Wells, emphasizes the critical need for Internal Audit functions to adapt to AI and cybersecurity advancements, suggesting the expansion of capabilities and leveraging external expertise to address skill gaps.

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MILWAUKEE, Aug. 29, 2024 /PRNewswire/ -- Jefferson Wells, a leading professional services firm specializing in Finance & Accounting, Internal Audit, Risk & Compliance, and Tax, and part of the ManpowerGroup (NYSE: MAN) family of brands, released the results of its eighth annual Internal Audit Priorities Survey. The survey reveals that while cybersecurity remains the top risk, the rise in the usage of Generative AI tools is escalating in risk priority for IA leaders and audit committees. Despite this, only 26% of organizations have fully integrated Generative AI standards into their governance framework, indicating a need for more comprehensive controls.

Business Transformation and IT Deployment risks necessitate more in-depth internal audit skillsets in cybersecurity, data analytics, IT audit, and Generative AI, which are the most challenging to train and retain. Consequently, 37% of organizations are planning to increase staff to meet the heightened demand for these technology skills - the first significant increase in internal audit departments planning to expand their teams since 2020.

"Technology and cybersecurity are more critical than ever as organizations navigate a rapidly evolving risk landscape," said Tim Lietz, National Practice Leader for Risk & Compliance at Jefferson Wells. "Our survey highlights the urgent need for Internal Audit functions to adapt to advancements in AI and cybersecurity. To effectively address these challenges, Internal Audit departments must expand their capabilities and leverage external expertise for skill gaps."  

Explore Jefferson Wells' 2024 Internal Audit Priorities survey at: www.jeffersonwells.com/en/internal-audit-report-2024.

ABOUT JEFFERSON WELLS
Jefferson Wells is a professional services firm delivering solutions in Finance & Accounting, Internal Audit, Risk & Compliance, and Tax. We provide consulting, thought leadership, integrated resourcing, and executive search. Jefferson Wells is a part of the ManpowerGroup family of brands.

For more information, visit www.jeffersonwells.com, or follow us on LinkedIn.

ABOUT MANPOWERGROUP
ManpowerGroup^® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for more than 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2024 ManpowerGroup was named one of the World's Most Ethical Companies for the 15th time – all confirming our position as the brand of choice for in-demand talent.

For more information, visit www.manpowergroup.com, or follow us on LinkedIn, X, Facebook, and Instagram

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SOURCE ManpowerGroup

FAQ

What are the top concerns for internal audit leaders in 2024 according to ManpowerGroup's Jefferson Wells survey?

The 2024 Internal Audit Priorities Survey by Jefferson Wells (NYSE: MAN) identifies cybersecurity and the rising adoption of Generative AI as the top concerns for internal audit leaders in 2024.

How many organizations have fully integrated Generative AI standards into their governance framework?

According to the survey by ManpowerGroup's Jefferson Wells, only 26% of organizations have fully integrated Generative AI standards into their governance framework, indicating a need for more comprehensive controls.

What percentage of organizations plan to increase staff for technology skills in internal audit departments?

The survey reveals that 37% of organizations are planning to increase staff to meet the heightened demand for technology skills in internal audit departments, marking the first significant increase in team expansion plans since 2020.

What specific skillsets are most challenging to train and retain in internal audit departments?

According to the ManpowerGroup (NYSE: MAN) survey, the most challenging skillsets to train and retain in internal audit departments are cybersecurity, data analytics, IT audit, and Generative AI.