In today’s fast-moving world, yearly risk assessments can become outdated almost as soon as the final reports are generated. After all the hard work that went into reviewing what occurred over the past year and what might happen going forward, new events might occur that change the whole picture. That’s why many organizations are switching from annual reviews to more continuous risk assessments.
As we dive into this article, continuous risk management — often driven by internal audit — can provide several benefits to organizations. Not only can making this switch improve the ability to detect relevant risks, but it can also help in areas like staff morale and collaboration.
More specifically, you should consider making continuous risk assessments part of your internal audit plan in order to:
