Audit committees and boards of directors are looking for deeper insights into the companies they govern. This need matches the IIA’s vision of internal auditing and is aligned with the next-generation capabilities of what we at Protiviti have been calling the ‘‘future auditor.’’ This opportunity is fleeting, however, and if audit leaders don’t act quickly to capitalize on it, boards will fill that need elsewhere.

Digital transformation and the adoption of next-generation best practices, including advanced analytics for reporting and robotic process automation for the control environment, need to be a priority for every internal audit organization that wants to remain relevant.