Internal Audit’s Role in ESG Reporting

The European Union’s Digital Operational Resilience Act (DORA) affects Internal Audit in insurance companies, as it sets direct and indirect standards for the internal audit function. The deadline for meeting DORA requirements is 17 January 2025, and both financial institutions and service providers across the industry are feeling the pressure.

A major research report has revealed a looming poly-crisis as a series of high-impact risk events are occurring simultaneously and exacerbating a multitude of interconnected risks. This includes ongoing economic uncertainty, the cost-of-living crisis, the Ukraine crisis and growing geopolitical turmoil, labour shortages, along with extreme weather events fuelled by the climate crisis.

This publication is developed with specialists from the Internal Audit Service from the European Commission for the use of Internal Auditors.