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Thank you for posting Tom McLeod, you provide an objective assessment of the challenges and opportunities for audit reporting as AI starts to make its way into the audit industry.
When one considers the regulatory challenges ahead for the Management of Cybersecurity Risk one has to consider the role of audit in the assurance of cyber risk (EU NIS 2, EU DORA, NYDFS, SEC final Cyber rule, the list goes on………..). Internal and external audit are important in providing management with the appropriate lens of both cyber control effectiveness and independent opinion on regulator compliance.
AI will provide auditors with tools to evaluate cybersecurity risk. Pushing into areas of oversight and assurance that were once held by the CISO or CIO. Technology barriers will be pulled down, AI will close the cyber audit knowledge gap and AI will drive to continuous audit of what is very complex and resource demanding topic.
Lets not forget cybersecurity is also a risk to national security and being regulated for a reason. Requiring oversight and assurance by boards of covered entities, a role for the 3rd Line.
Faisal Khan Dan Miles
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