Any discussion on the future trends of IT audit management would only be complete with emerging technologies.
Connecting to and interacting with internal and external systems is a requirement for all new technologies. The possibility of risk increases with the process.
The process of internal IT audit is familiar with some of the risks. However, new challenges, risks, and opportunities have become predominant in the present scenario. The exorbitantly high amounts of data and unknown risks dominate the IT audit management industry.
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Yet, a lot of new technology is uncontrolled or relatively lightly regulated. For instance, privacy restrictions apply to some emerging technology. Internal audits should prepare for the quick evolution of regulations.
Scoping the IT audit management process around the developing technologies will be a viable future-oriented approach.
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Three factors will be prominent when combining IT audit management with nascent technologies. The risks associated with innovative technologies, incorporating the latest technologies with organizational strategies, and the need for skilled resources which could implement the process seamlessly.
An emerging technologies audit’s preparation and scope should be similar to previous audits, and best practices call for a risk-based audit approach everywhere.
Internal audits should also be aware of the importance of sufficient security and backup plans for encryption and keys.