Boards are relying more on auditors to help clarify and resolve risk and control issues.
In a recent poll by global research and consulting firm Gartner, 76% of chief audit executives (CAEs) ranked advancing data and analytics capabilities as their top priority for 2025. However, only 35% feel confident they will be able to achieve that goal.
The global research and advisory firm surveyed 127 global CAEs across multiple regions, industries, and organizational sizes for the 12-page report titled Top Audit Priorities for 2025. The results show a significant confidence gap in addressing technology challenges, an article in Corporate Compliance Insights reported. Respondents expressed concerns about building IT audit capabilities, cited by 27%, and providing assurance over generative artificial intelligence (GenAI), cited by 29%.
The other nine of the top 10 focus areas CAEs cited:
- Providing more insightful and actionable analysis of the root causes of issues and control
weaknesses to key stakeholders, cited by 59%. - Building a more effective approach to training auditors on a prioritized set of skills and
capabilities, 57%. - Right-sizing coverage of cybersecurity and related risks, 54%.
- Aligning methodology and quality assurance practices with the new Global IIA Standards,
54%. - Improving the audit function’s continuous auditing and monitoring capabilities, 54%.
- Building more IT auditing capabilities within the audit department, 53%.
- Strengthening the risk management capabilities of other risk and control groups, 52%.
- Strengthening CAE influence, 51%.
- Moving to a more continuous risk assessment and audit planning approach, 51%.
“Chief audit executives are prioritizing providing deeper insights for 2025,” the paper read. It cited the top two findings and added, “These priorities highlight the continued importance of keeping pace with data-driven audit practices, ensuring that audit helps the business understand where it needs to resolve more systemic risk and control issues.”
Among other key findings highlighted in the paper:
- 90% of audit departments now use data analytics in engagement fieldwork, but only 44%
apply analytics to advisory work. - 57% of audit executives prioritize building more effective training approaches, but only 38%
feel confident in addressing this challenge. - 47% of audit leaders struggle to update their departments’ competency models to include
new expectations for skills and knowledge.