Cloud computing, digital assets, and fair lending compliance rank among the major 2023 risk areas for banking internal auditors.
As the effects of the COVID-19 pandemic continue to reverberate and shape markets, internal audit departments have had to become more resilient, flexible, and resourceful. But the challenges are far from over. A volatile economic outlook, geopolitical events, and rising interest rates continue to bring forth new and evolving risks.
Given a business environment with this much uncertainty, audit committees and teams at banks and other financial services organizations should consider the following six areas of risk as they build their internal audit plans for 2023.