The Room for Improvement – New Year, New Opportunities for Internal Auditors

The best teams are those that never stop improving; the opportunity to grow as internal auditors is intertwined with our ability to grow as leaders, collaborators, and trusted advisors. Helmut Schmidt’s enduring observation, “The biggest room in the world is the room for improvement” serves as both a reminder and a call to action. Very few professions are as uniquely positioned to drive organizational resilience and trust as internal audit. Yet, the start of a new year provides a good opportunity to rethink our role and recalibrate our approach. Stakeholders demand Internal Audit to deliver strategic value, enable informed decision-making, and identify challenges well in advance. This provides us a great opportunity to position ourselves not just as evaluators of the past but as architects of a resilient and forward-looking future for our organizations.

At the start of the new year, it is a good time for us to redefine priorities, elevate our craft, and deepen our impact on the organizations we serve. The challenges are evident, economic uncertainty, technological disruption, and evolving stakeholder expectations. Yet, within these challenges lie extraordinary opportunities to enhance the credibility and relevance of internal audit. This year, let’s embrace our role as catalysts for improvement and champions of value creation, ensuring that internal audit continues to shape a stronger, more resilient future.

To seize these opportunities, I propose six resolutions, and clear, actionable commitments to elevate the practice of internal auditing. Here are practical steps that can help us become better auditors.

1)??? Strengthen Stakeholder Engagement

Internal Audit thrives when aligned with the needs and expectations of its stakeholders. Proactively engage with the Board, Audit Committee, and senior leadership to understand their strategic priorities. Customize your audit plan to address their pain points and provide actionable insights. Regularly communicate audit outcomes in ways that are relevant and meaningful to different stakeholder groups.

2)??? Leverage Technology and AI

2025 provides an exciting opportunity to embrace digital transformation and benefit from AI. Consider integrating AI tools and data analytics into your audit workflows (if you aren’t already doing this). Stay updated on emerging technologies and understand their implications for your industry.

3)??? Focus on Risk Anticipation

For Internal Audit, being proactive is non-negotiable. Shift your audit approach from hindsight (reviewing past events) to foresight (anticipating future risks). Consider incorporating scenario planning and stress testing into your risk assessment. Pay attention to emerging risks and AI governance.

4)??? Expand Your Skillset – Understand and Comply with Global Internal Audit Standards

The best auditors never stop learning. Staying ahead requires continuous personal and professional development. An obvious key focus area for us has to be the Global IA Standards, and their implications on the way work. Stay informed about other global regulatory changes and industry-specific developments. Also focus on developing non-technical / soft skills like strategic thinking, emotional intelligence, and conflict resolution.

5)??? Enhance Communication and Storytelling

Good Internal Auditors are storytellers at heart. Crafting a compelling narrative can make your audit findings resonate with stakeholders. Focus on clarity, brevity, and relevance in your audit reports. Use visuals like dashboards and infographics to make complex data more digestible. Always connect audit outcomes to the organization’s goals and strategies, showing the ‘so what’ of your findings.

?6)??? Promote Audit’s Value Beyond Compliance

Internal Audit should be seen as a strategic partner, not just a compliance enforcer. Highlight how audit insights contribute to organizational resilience, efficiency, and innovation. Identify opportunities to collaborate with other functions. Advocate for internal audit’s role in shaping organizational culture and building trust.

These resolves represent a strategic roadmap to transform how internal auditors engage, lead, and deliver value. Each resolution is a step toward strengthening our voice in the boardroom, enhancing our credibility, and proving that internal audit is a critical driver of organizational success. But this journey is not one we take alone. The power of our profession lies in the collective wisdom, shared experiences, and the diverse perspectives that we bring to the table.

So, what are your resolutions for 2025? And which of these priorities resonate with your vision?

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