Pulse of Internal Audit Survey Report UAE– 2024

Understanding recent trends in Internal Audit specific to the United Arab Emirates market is paramount. Collaborative efforts between Protiviti Member Firm in the Middle East Region and the UAE IIA brought forth insights into how UAE's Internal Audit functions are adapting to drive innovation, enhance resilience, and manage risks.

Considering the disruptions caused due to technological innovations and cybersecurity-related threats being a key concern for many organizations, it is imperative for the Internal Audit function to ensure that IT-related audits are included in annual plans and that the team members are equipped with IT and Cybersecurity skillsets.

Key takeaways of the survey

• The survey presents a multifaceted landscape within Internal Audit functions. While there are commendable aspects like Audit Committee support for innovation and recognition of Internal Audit's value, critical gaps in IT audit inclusion, risk adaptability, and ESG reporting capabilities pose challenges.
• Addressing the gaps is pivotal to fortifying Internal Audit's resilience and effectiveness, enabling it to evolve as a strategic partner in driving organizational success and resilience in an ever-evolving business landscape.
• Acknowledging emerging risks and embracing sustainability through ESG initiatives have emerged as focal points for businesses in 2024.