The Impact of Quantum Computing on Internal Auditing

The Institute of Internal Auditors Presents: All Things Internal Audit

In today’s episode, to kick off the new year, we’re counting down your top 5 favorite episodes from 2024! From tackling AI risks and ethics to uncovering misleading greenwashing claims and exploring the next frontier of quantum computing, these episodes highlight the key issues shaping the internal audit profession. So, whether you’re a longtime listener or new to All Things Internal Audit, grab a seat and join us as we revisit the episodes that made the biggest impact in 2024. Let the countdown begin!

Episode 1: Tackling AI Risks and EthicsRobert Pérez, owner, Pérez Communication Solutions George Barham, director of standards & professional guidance, The IIA

Episode 2: Governance and Ethical Dilemmas in AI David Petrisky, director, professional standards, The IIA

Brian Willis, LBMC senior manager, cybersecurity advisor Charles King, managing director, advisory services, KPMG LLP Alex Gacheche, head of information security, Meta Ivan Martinez, managing director, internal audit, Goldman Sachs Ethan Rojhani, Grant Thornton principal, risk advisory services Wes Luckock, Grant Thornton senior manager, AI, automation and analytics Episode 3: Exposing Greenwashing Claims David Petrisky, director, professional standards, The IIA Edith Wong, forensic accountant in Investigations and Compliance, FTI Consulting Brian Wilmot, Compliance and Regulatory Counseling and Investigations and White Collar Defense Practices attorney at Paul Hastings LLP Episode 4: Quantum Computing's Impact on Internal Auditing Lynn Moehl, director of internal audit and chief audit executive, The IIA Nick Reese, co-founder and COO of Frontier Foundry & former director of emerging technology at Department of Homeland Security 

Episode 5: Combating Financial Crime with AIRicardo Martinez, senior manager, Portfolio Strategy, The IIA

Antonio Cacciapuoti, head of internal audit, Eurizon Alessandro Casarotti, forensic and anti-financial crime director, PwC Luxembourg

Key Points: 

• Introduction [00:00:02 - 00:00:36]
• Episode 1: Tackling AI Risks and Ethics [00:00:38 - 00:06:27]
  • Overview of the AI auditing framework [00:00:54 - 00:01:41]
  • Building an understanding within the organization [00:01:41 - 00:02:42]
  • Governance, management, and internal audit domains [00:02:42 - 00:04:25]
  • Engagement and leveraging relationships [00:04:25 - 00:05:25]
  • Tools and resources for practitioners [00:05:25 - 00:06:27]
• Episode 2: Governance and Ethical Dilemmas in AI [00:06:32 - 00:11:42]
  • Introduction to AI governance and ethics [00:06:45 - 00:07:18]
  • Addressing bias and ethical risks in AI [00:07:18 - 00:08:19]
  • Monitoring and controlling AI models [00:08:19 - 00:09:20]
  • Governance standards and independent monitoring [00:09:20 - 00:10:15]
  • Challenges and strategies for maintaining ethical standards [00:10:15 - 00:11:42]
• Episode 3: Exposing Greenwashing Claims [00:12:04 - 00:16:50]
  • Introduction to greenwashing [00:12:10 - 00:13:00]
  • Legal and regulatory aspects of greenwashing [00:13:00 - 00:14:19]
  • Examples of greenwashing cases [00:14:19 - 00:15:08]
  • Vague environmental claims and their scrutiny [00:15:08 - 00:16:02]
  • Risks and impacts of greenwashing on companies [00:16:02 - 00:16:50]
• Episode 4: Quantum Computing's Impact on Internal Auditing [00:17:00 - 00:22:58]
  • ntroduction to quantum computing [00:17:04 - 00:17:34]
  • Impact of quantum computing on internal auditing [00:17:34 - 00:18:23]
  • Malicious use and cybersecurity risks [00:18:23 - 00:19:26]
  • Current state and future potential of quantum computing [00:19:26 - 00:20:24]
  • Security risks and workforce training for auditors [00:20:24 - 00:22:58]
• Episode 5: Combating Financial Crime with AI [00:23:03 - 00:26:37]
  • Introduction to AI in financial crime detection [00:23:18 - 00:24:08]
  • Benefits of AI in transaction monitoring [00:24:08 - 00:25:03]
  • Screening systems and reducing false positives [00:25:03 - 00:25:52]
  • Training AI systems and cybersecurity considerations [00:25:52 - 00:26:37]

IIA Related Content: Interested in this topic? Visit the links below for more resources:

• Auditing Artificial Intelligence Course
• Demystifying AI: Internal Audit Use Cases for Applying New Technology
• The IIA's ESG Certificate Program
•  The IIA's Environmental, Social and Governance Knowledge Center
• The Big Idea: Quantum Computing
• Elevating Performance and Adding Value Get to Know the New Cybersecurity Topical Requirement Webinar

Visit The IIA's website or YouTube channel for related topics and more.

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