Why it matters
Ensures the function can provide independent and objective assurance over increasingly complex and emerging risks
INTERNAL CONTROLS AND ASSURANCE
Critical success factors and progress towards delivery
Skilled and certified audit professionals
FY2026 actions and plans
Certifications, AI training, benchmarking visits, auditor rotation, and continuous professional development
Evidence of progress
91% staff engagement index; expanded specialist capability
Impactful reporting and stakeholder confidence
Why it matters
Enhances the relevance and value of Internal Audit insights to decision-makers
FY2026 actions and plans
Strengthened engagement with the Board, Audit and Risk Assurance Committee, Management, and assurance stakeholders
Evidence of progress
91% stakeholder relevance target; growing demand for advisory support
INTERNAL CONTROLS AND ASSURANCE
Critical success factors and progress towards delivery
Focus on the organisation's highest risks
Why it matters
Directs assurance resources towards strategic priorities and emerging threats
FY2026 actions and plans
Risk-based planning aligned to Vision 2035, emphasising technology, ESG and transformation initiatives
Evidence of progress
100% planned audit delivery; enterprise-wide assurance coverage
Technology-enabled assurance
Why it matters
Improves assurance quality, efficiency, effectiveness, and responsiveness
FY2026 actions and plans
Expansion of data analytics, continuous auditing, AI-enabled audit techniques, and AMS utilisation
Evidence of progress
90% of assignments supported through analytics and digital audit tools
INTERNAL CONTROLS AND ASSURANCE
Critical success factors and progress towards delivery
Strong Internal Audit frameworks and methodologies
Why it matters
Promotes consistency, quality, and professional conformance
FY2026 actions and plans
Adoption of Global Internal Audit Standards; refresh of the Charter and Internal Audit Manual
Evidence of progress
External quality assessment completed; standards alignment achieved
Quality assurance and continuous improvement
Why it matters
Supports continual enhancement of audit effectiveness and stakeholder confidence
FY2026 actions and plans
Three-tier quality assurance programme including self-assessments and external assessments
Evidence of progress
90% compliance target; successful quality reviews
INTERNAL CONTROLS AND ASSURANCE
Critical success factors and progress towards delivery
Combined assurance and stakeholder collaboration
Why it matters
Reduces duplication and strengthens governance oversight
FY2026 actions and plans
Enhanced coordination with Risk Management and Legal; development of a combined assurance framework
Evidence of progress
Improved assurance integration and coordinated oversight
ESG and sustainability assurance capability
Why it matters
Supports credible sustainability reporting and ESG governance
FY2026 actions and plans
Development and implementation of an ESG assurance framework covering governance, risk, controls, reporting, and monitoring
Evidence of progress
ESG assurance incorporated into annual audit planning and reporting
INTERNAL CONTROLS AND ASSURANCE
Progress towards our strategic outcome
| Strategic objective | Status | FY2026 progress |
|---|---|---|
| Strategic alignment | Achieved | Internal Audit Strategy 2025–2030 approved and aligned to Vision 2035 |
| Professional excellence | Achieved | Global Internal Audit Standards adopted |
| Technology and innovation | On track | AI training, analytics, capability, and continuous auditing expanded |
| Quality and compliance | Achieved | External quality assessment completed |
| Combined assurance | In progress | Framework being formalised and implemented |
| Predictive assurance | In progress | Increased use of data analytics and continuous auditing |
Risks to strategy delivery
| Strategic risk | Potential impact | Mitigation |
|---|---|---|
| Funding constraints or delays | Slower implementation of strategic initiatives | Proactive budgeting and resource planning |
| Skills gaps in AI, analytics, and emerging technologies | Reduced assurance effectiveness | Targeted training, certification, and specialist recruitment |
| Technology disruption, cyber threats, and digital fraud | Increased risk exposure and assurance challenges | Continuous monitoring, benchmarking, and capability development |