The Digital Grapevine: Social Media and the Role of Internal Audit
No longer confined to areas of entertainment and life management, social media and social software have become an integral part of the digital business landscape. With more and more users linking, liking, friending and following, how can Internal Audit (IA) help assess and mitigate risks associated with social business?
This paper discusses the proactive steps IA can take to help address such growing challenges as:
- Brand and reputation damage
- Regulatory compliance
- Information leakage
- Third-party risk
- Governance risk
In each of these categories, IA can play a critical role in understanding the potential risks of engaging in social business. IA can also help to monitor and manage threats and strike a balance between risks and opportunities.
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