LAKE MARY, Fla. USA (9 July 2019) —Part II of The IIA’s Global Perspectives and Insights: 5G and the Fourth Industrial Revolution continues the important examination of what could be one of the most influential and disruptive technological advancements of the 21st Century. Building on Part I, which introduced readers to the fifth generation of wireless communication technology, Managing in a ‘Connected-everything’ World, offers important strategic direction for internal auditor seeking their place in the 5G universe.
Now is the time for internal audit to begin a careful examination of the time and resources needed to adopt and adapt to the next generation of wireless network technology. Internal audit must position itself to provide support for a smooth transition and drive positive change by helping organizations navigate disruptive risks and manage all areas of risk effectively. To achieve this, internal audit itself will have to focus on how it can leverage new opportunities to serve and provide foresight into the emerging risks presented by 5G.
Indeed, the coming changes will pressure internal audit functions to become even more proactive and forward-thinking, and propel internal audit into a more strategic and supportive role. To achieve this, the profession’s resistance to technology must change. As organizations leverage 5G and become more data-driven, internal audit will have no choice but to do so as well. However, without embracing data analytics, robotic process automation, artificial intelligence, and other technologies, the probability of internal audit effectively identifying, evaluating, and advising on risks in the age of 5G is low.
The IIA’s new report looks at key issues that are bound to arise once 5G is a reality. From implementation challenges, legal disputes, and regulatory tests to concerns with disruptive technologies, data management, and cybersecurity, the report seeks to prepare organizations for the potential implications of 5G so they can proactively address the issues.
The IIA partners with IIA Affiliates in more than 170 countries and territories to fulfill its mission to advance the internal audit profession and serve its more than 200,000 members globally. IIA Affiliates serve as The IIA’s exclusive representatives to collectively carry the voice of the internal audit profession, promoting high standards of ethics and professional practice in their internal audit communities.
The report is available to members at www.theiia.org/GPI.