Practice Guide: Insight and Foresight

This Practice Guide supports internal audit functions in delivering insight and foresight in conformance with the Global Internal Audit Standards (GIAS).

Drawing on professional literature, interviews with experienced practitioners, and a survey conducted by IIA Netherlands, the guide positions insight and foresight as outcomes of internal audit activities. It explains how insight helps auditors move from observations to root causes and meaningful interpretation, while foresight supports the anticipation of emerging and future risks through methods such as trend analysis, horizon scanning, scenario building, and early warning indicators.

The publication also addresses the competences required to deliver these outcomes, including business expertise, systems and strategic thinking, scenario thinking, advisory skills, and knowledge of AI.

In addition, the guide provides strategic recommendations for Chief Audit Executives and practical recommendations for individual auditors, while emphasising that the same requirements for evidence, objectivity, and quality continue to apply.

The Practice Guide concludes that insight is increasingly embedded in internal audit practice, while foresight is still emerging but gaining traction. Both offer opportunities to strengthen the performance and value contribution of internal audit.

Download the guide here (members only)