Deloitte Survey Shows Growing Focus On Cybersecurity & AI Governance In Audit Committees

A recent survey conducted by Deloitte and the Centre for Audit Quality found that cybersecurity, enterprise risk management (ERM), and meeting effectiveness are top priorities for audit committees.

The survey highlights that 93% of respondents ranked cybersecurity as one of their top three priorities, with 50% naming it their leading focus. ERM is followed closely as the second-highest priority, essential for organisational objectives and reputation. The survey also revealed an increasing focus on AI governance, with 35% of respondents prioritising it, a significant rise from the previous year. Additionally, audit committees are looking to enhance meeting effectiveness by improving the quality of presentations and increasing engagement during discussions. The survey also noted that 71% of respondents include cybersecurity on their agenda quarterly, reflecting its ongoing importance in mitigating evolving risks.

Additionally, the report revealed that more audit committees are assuming primary oversight of AI governance, with 20% of respondents taking responsibility for it, compared to 14% last year.