Technology executives see a strong appetite for their products and services, and plan to take advantage of their favorable liquidity and cash positions by continuing to drive revenue growth through investments in emerging technologies and evolving business models such as cloud, mobility, and digital products and services.
As technology companies invest in these transformational initiatives, internal audit will play a critical risk management role in a variety of key areas:
- New sources of revenue growth (third-party relationships, international operations and mergers, acquisitions and integration)
- Managing costs (outsourcing, off-shoring and shared services, supply chain management)
- Information Technology management (information security and privacy, system implementation and upgrades, business continuity and IT disaster recovery, and cloud, social and mobile services)
- Risk management and regulatory compliance (Foreign Corrupt Practices Act and Anti-Bribery and Corruption, trade and customs compliance, intellectual property protection, transfer pricing, taxes, talent management, retention and succession planning, and corporate social responsibility).