Advocacy Update – Internal Audit AI Working Group

This month, IIA-Australia hosted our first Artificial Intelligence in Internal Audit Working Group. This group has been brought together to develop best practice guidelines for both using AI to enhance internal audit and auditing the use of AI to manage risk within organisations. 

At present, our working group brings together those working on the frontline of innovation in this area. Our members are technology and data internal audit specialists from financial institutions, along with professional services and Federal Treasury.  

Over the coming months we will seek to build:

  • A maturity assessment tool that internal audit can utilise to assess the needs of their organisation and create a plan for the successful implementation of AI-driven tools
  • Best practice recommendations for developing Codes of Conduct and governance principles
  • Guidelines for risk management with ‘first line’ staff using AI
  • An exploration of the ‘skills of the future’ – what should organisations be doing now to prepare for the future? How can internal audit assist in this journey?
  • Insights into ethical and human considerations, which will be intrinsic to all our outputs and recommendations

Additionally, we will be looking for ideas from members on questions you want answered. We also want to know, how are you preparing your organisation for the changes AI will bring? Please email your questions or ideas to AskIIAAusAI

We will also want to find other members who may want to be a part of this important initiative. Please email us on the address above if you would like to be involved.