Navigating New Frontiers: The Evolving Role of Internal Audit

The Institute of Internal Auditors India's Calcutta Chapter highlighted how geopolitical shifts, economic instability, and advancing technologies are changing global risk landscapes. The annual conference focused on expanding internal audit roles to strengthen corporate governance, with experts emphasizing the need for a risk-based approach and continuous adaptation amid rapidly evolving environments.

The Institute of Internal Auditors (IIA) India's Calcutta Chapter has shed light on the shifting global risk landscape influenced by geopolitical developments, economic volatility, and technological advancements such as artificial intelligence. These factors are posing fresh challenges to traditional governance and control systems for organizations worldwide.

At the Annual Conference 2026, industry leaders, including Krishnan Venugopal and Neeraj Bansal, discussed the importance of internal audit in enhancing corporate governance. They emphasized the growing expectation from internal auditors to monitoring emerging risks and adjust governance frameworks accordingly. The event reiterated that internal audit roles now extend beyond traditional transaction verification and compliance.

Abin Mukhopadhyay highlighted the rapid evolution of technology cycles, stressing the need for robust controls and continuous monitoring. He called for internal auditors to engage in ongoing professional training to remain proficient amidst accelerating changes. Technical sessions emphasized the transformation of internal audit from assurance roles to strategic, insight-driven partnerships with management and boards.

(With inputs from agencies.)