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an assessment of management’s approach to both 8. Third-party relationships and supply chain
structured and unstructured data discovery.
The role of Internal Audit - Internal Audit should take
5. Digital disruption and new technologies a holistic view towards third party risk management,

The role of Internal Audit - Internal Audit can going beyond contract management to assess
add value by assessing the change management whether their organization has a clear strategy
process and recommending enhancements to and a robust framework to support third party risk
ensure that governance, risk and control matters management. Internal Audit can assess whether
are appropriately considered across the change life management has considered the need to remodel
cycle. In addition, Internal Audit can play a significant supply chains and outsourcing strategies to improve
role, whilst maintaining independence, advising on their organization’s operational resilience.
governance and control matters relating to the digital 9. Operational resilience (including business
transformation strategy. continuity and crisis response)
6. Talent management and retention The role of Internal Audit - Internal Audit should

The role of Internal Audit - Internal Audit should assess the quality of the overall operational resilience
assess their organization’s approach to workforce and crisis management system, by ensuring that
planning and future skill demand, talent acquisition, key threats have been identified and appropriate
and talent retention strategies. Additionally, Internal response plans are in place and tested. Internal
Audit should evaluate how management is monitoring Audit should review whether the DR and BCP are fit
and seeking to improve employee wellbeing. for purpose and whether emerging risks and evolving
key threats are considered. Internal Audit should
7. Hybrid working - organizational culture and also seek evidence of the crisis decision-making
behaviour. governance and the integrity of information reported
The role of Internal Audit - Internal Audit should to crisis committees.
continue to conduct soft control audits to provide 10. Regulatory driven risk
assurance over the current culture in the organization
and its impact on the effectiveness of the controls The role of Internal Audit - Internal Audit needs to
set in place. This can be completed through either have a strong understanding of the existing regulatory
standalone culture audits or by including culture landscape in which the organization operates to assess
elements across all audits, to show how the everyday compliance with relevant regulatory laws and regulation.
life of the organization and the behaviour of its staff
reflect the adopted values.

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