From Risk Traditionalist to Risk Strategist: How Internal Audit Must Evolve

The Institute of Internal Auditors Presents: All Things Internal Audit What does it take to move an internal audit function from being risk traditionalists to risk strategists, and what's quietly holding most teams back? In this companion episode to Internal Auditor magazine's "Becoming a Risk Strategist" article, host Erin Banet sits down with Jess Rodgers to examine why the traditional audit model no longer fits the world we're operating in, and what leaders need to unlearn before they can change it. You'll hear three assumptions most audit teams are still running on, a real-world example of transformation done right, and one concrete action CAEs can take in the next six months to start shifting their function's standing with leadership. HOST: Erin Banet, CPA Chief Audit and Risk Officer, Humana GUEST: Jess Rodgers, CIA, CPA Global Internal Audit Leader, EY Vice Chair, Finance, IIA North American Board KEY POINTS: Introduction [00:00:02 - 00:00:25]What Defines a Risk Traditionalist Function [00:00:51 - 00:02:31]Why the Traditional Model No Longer Works [00:02:37 - 00:04:22]Assumptions Internal Audit Must Unlearn [00:04:28 - 00:06:39]The Mindset Shift Required for Transformation [00:06:44 - 00:08:44]A Real-World Transformation Example [00:08:44 - 00:11:10]Where Traditional Approaches Fall Short [00:11:10 - 00:13:36]Measuring Success as a Risk Strategist [00:13:36 - 00:15:27]Decision Velocity in Practice [00:15:27 - 00:17:25]Common Barriers to Transformation [00:17:25 - 00:19:23]One Action Leaders Can Take Now [00:19:23 - 00:21:03]Advice for CAEs Navigating the Transition [00:21:22 - 00:23:06]Driving Change Within Audit Teams [00:23:06 - 00:24:36]Closing Thoughts [00:24:36 - 00:25:05] Visit The IIA's website or YouTube channel for related topics and more. RELATED CONTENT: Interested in this topic? Visit the links below for more resources: Becoming a Risk Strategist — Internal Auditor Magazine (April Issue)Global Internal Audit StandardsVison 2035 GTAG: Continuous Auditing and Monitoring Learning Solutions: Agile Auditing Global Guidance: Developing a Risk-Based Internal Audit Plan, 2nd Edition Learning Solutions: Fundamentals of Risk-based AuditingBecome a Certified Internal Auditor (CIA) Risk in Focus 2026 EY Global Risk Transformation Study Follow All Things Internal Audit: Apple Podcasts Spotify Libsyn Deezer