Companies’ Internal Audit Teams Lack Resources, Survey Finds

Corporate teams that assess risk management, internal controls, and governance procedures are being starved of resources in an era of “hypervolatility,” according to a new report.

Spending on these internal auditors is falling or flat at a majority of companies, according the results of a survey that risk-management platform AuditBoard published Wednesday.

Internal auditors should make greater use of artificial intelligence to automate routine tasks and free up resources, Richard Chambers, AuditBoard’s senior adviser for risk and audit, said in a statement.

“Internal audit stands at a tipping point,” Chambers said. “The pressures outlined in the report create unprecedented ...