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Risk in Focus 2024 – Hot topics for internal auditors

About RIF 2024

2024 marks the first year Risk in Focus has been conducted worldwide. The project was originally developed in 2016 by the European Institutes Research Group (EIRG), which continues to produce it each year for Europe.

This year, Risk in Focus 2024 involved a collaboration between 16 European Institutes of Internal Auditors, spanning 17 countries which included Austria, Belgium, Bulgaria, France, Germany, Greece, Hungary, Italy, Luxembourg, The Netherlands, Norway, Poland, Spain, Sweden, Switzerland, and the UK & Ireland. It is the highest number of European countries involved so far. The survey elicited 799 responses from CAEs across Europe. Simultaneously, five roundtable discussions were organised with 46 CAEs. In addition, we also conducted 11 one-to-one interviews with subject matter experts that included CAEs, Audit Committee Chairs and industry experts to provide deeper insights into how these risks are manifesting and developing.

Key findings

  1. Cybersecurity retains its longstanding top spot:   84% of respondents voted cybersecurity as the number one risk for the sixth year in a row
  2. Human capital, diversity, talent management and retention also retained its 2nd place ranking (58% of respondents ) in the report as many businesses find themselves out of sync with the post-pandemic culture
  3. CAEs’ (43% of respondents) ranked macroeconomic and geopolitical uncertainty as their organisations’ 3rd biggest risk – jointly with changes in laws and regulations.

Find more information here.

A full report and a Board briefing are available.

The press release is available here.