The following blog has been written by one of Leonid’s audit specialists, Ines Gago, who has collated her insights from conversations with auditors from a range of industry sectors.
Auditors are no longer just the gatekeepers of financial accuracy; they are now integral to strategic decision-making, risk management and compliance with corporate governance.
My recent conversations with auditors have resulted in the following insights.
Emerging Technologies: The integration of advanced technologies like AI, blockchain and data analytics is revolutionising the audit process. These tools – although initially complex to navigate – are ultimately seen as a huge positive since they enhance efficiency and accuracy, and provide deeper insights - thereby freeing up more time for auditors to focus on being strategic advisors.
Regulatory Changes: Keeping abreast of new and updated laws and legislation is non-negotiable for auditors. Continuous learning - and the ability to apply that learning to a business - are absolutely key for staying ahead of the game and being fully compliant.
Cybersecurity: With cyber threats on this rise and becoming ever more sophisticated, auditors are increasingly involved in evaluating an organisation's cybersecurity measures. This includes assessing the robustness of data protection protocols and ensuring compliance with both global and regional regulations, such as the upcoming EU AI Act.
Soft skills really do count: Technical expertise will always be highly valued, but employers have now come to expect excellent interpersonal abilities, including exemplary communication, critical thinking and problem-solving skills. Since auditors now play a vital role in advising management on risk mitigation and operational efficiencies, it’s not surprising that these skills are increasingly in demand.
Continuous Improvement: Given the dynamic and increasingly complex nature of the audit profession, recognised training and certification - such as obtaining a CPA (Certified Public Accountant) or CIA (Certified Internal Auditor) qualification - are currently highly sought-after by employers.
Whether you are considering an auditing career or you are a seasoned professional looking to bolster your team, understanding these industry trends is essential.
At Leonid, we take an advisory, partnership approach with both our clients and candidates. So, if you are looking for some insights, please do get in touch for a no-obligation audit chat! Or, for a more in-depth review of the talent market, please download a free copy of our Global Guide to Hiring in Internal Audit.