Risk in Focus 2020 | Hot topics for Internal Auditors
For four years now the Risk in Focus report has sought to shed light on key business risks as identified by Chief Audit Executives (CAEs) across Europe. This latest edition is the result of a working partnership between no fewer than eight European institutes of internal auditors and draws upon qualitative interviews with 46 CAEs in Belgium, France, Germany, Italy, the Netherlands, Spain, Sweden and the UK & Ireland working in a range of industries.
In the previous edition we introduced a quantitative survey to the report for the first time. The report is becoming a more data-rich offering, with a full 528 responses to this year's CAE survey compared with 311 for Risk in Focus 2019. This is a resounding endorsement of our engagement with CAEs in the field, providing vital day-to-day assurance, advice and insight to their organisations.
Risk in Focus is an annual barometer of what CAEs perceive as their organisations’ risk priorities and what is preoccupying their thinking as they prepare their forthcoming audit plans.
We see Risk in Focus as a vital point of reference for the internal audit profession
Not just in Europe where the annual surveys and interviews are carried out, but worldwide. Risk is not solely the domain of internal audit, of course. Therefore, while the report may serve as a valuable document for CAEs and internal auditors in helping to shape and challenge their own audit plans for 2020, we hope it serves as an important benchmarking and consultation tool for a wide stakeholder group. Indeed, this report is as relevant for boards and audit committees as it is for risk managers and other assurance providers. Inevitably risk assurance is an idiosyncratic exercise that meets the specific needs of an organisation.
There is also a board briefing available.