Auditing Social Media
Many organizations have incomplete social media strategies. They are reactive rather than proactive, and organizations lack many of the processes that are needed to successfully manage an organization’s social media platform.
Internal audit should consider numerous engagement or control objectives, and activities or procedures, in implementing the Framework and providing advisory, assurance, or blended advisory/assurance internal audit services related to the organization’s AI activities.
To help internal audit fulfill this role, internal auditors can leverage The IIA’s AI Auditing Framework in providing AI-related advisory, assurance, or blended advisory/assurance services as appropriate to the organization.
Internal audit can help an organization evaluate, understand, and communicate the degree to which artificial intelligence will have an effect (negative or positive) on the organization’s ability to create value in the short, medium, or long term.
Public sector organizations are expected to serve the public good, uphold the principles of ethical governance, and comply with myriad laws and regulations. Yet the nature of politics may put pressure on, or conflict with, ethical governance principles.
Short of a crystal ball, there is no fool-proof way to predict outcomes in the financial services industry. However, models provide a powerful tool to empower organizations to make important decisions using information from a variety of sources.