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Navigating Turbulent times And the Importance Of Good Governance

SOUND GOVERNANCE practices build trust, inspire confidence, and advocate an organisation as being a responsible corporate citizen. Research suggests that investors are willing to pay a premium for a well governed organisation. Moreover, good governance is inextricably linked to good performance, therefore making it a critical success factor. An organisation’s governance processes should extend beyond mere siloed “tick-boxing” and pivot focus to an outcomes-based approach.

THE INFLUENCE OF ARTIFICIAL INTELLIGENCE ON THE FUTURE OF THE INTERNAL AUDITING PROFESSION IN SOUTH AFRICA 2

This article is a continuation of a two part thought leadership series. The reader is referred to Part 1 for context, background, research methodology, sample of participants and key findings around the following three areas:
Transforming to an automated internal audit approach.
Understanding and appreciating the capabilities of AI.
The possibility of AI conducting internal audit engagements.

THE INFLUENCE OF ARTIFICIAL INTELLIGENCE ON THE FUTURE OF THE INTERNAL AUDITING PROFESSION IN SOUTH AFRICA

We are at the cusp of the fourth industrial revolution. The world has already borne testament to the disruption of entire industries by non-conventional competitors. Uber has disrupted the taxi industry without owning a single vehicle while Airbnb continues to disrupt the hospitality industry without owning any real estate. Organisations are therefore compelled to continually scan the environment and strategically position themselves to effectively respond to these disruptions.