The ripple effects of rising geopolitical tensions, technological shifts and supply chain disruptions can be felt worldwide.
In Singapore, particularly, business leaders reflect a more cautious approach to scaling up internationally.
Below diagram is derived from Interpreneur Report 2026, a survey launched by Kreston Global, exploring the business expansion outlook of C-suite business leaders around the world, across 11 major market segments. Surveyed business leaders in Singapore recorded a more conservative 7.2 optimism score for expansion compared to their global counterparts that sit at 8.2.
Looking at the numbers, Mr. Helmi Talib, Managing Partner of Kreston Helmi Talib, noted that this can be attributed to Singapore's open economy that heavily relies on trade and exports.
In fact, the Report recorded a visible difference between global and local outlook on economic volatility, localising operations, and geopolitical and social disruption as the biggest challenges businesses faced when scaling internationally.
On the positive side, a more favorable outlook in the coming term is notable, according to the Report.
"During these uncertain times, businesses should prioritise internal alignment and readiness so they are better positioned to take advantage of the opportunities when global conditions stabilise," Mr. Talib said.
In times of uncertainty, preparation becomes a competitive advantage. This sentiment calls for evaluating risk management, assessing corporate governance, reviewing policies, procedures, and compliance readiness, improving business processes, and strengthening internal controls. All these can be achieved through a quality internal audit, risk and compliance.
Internal Audit plays a critical role in helping businesses build a strong and resilient foundation amid this volatile, uncertain, complex and ambiguous (VUCA) environment. Forward-looking businesses can leverage this period to undertake a quality internal audit procedure that serves to:
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Enhance Governance, Compliance and Operational Framework
Improving internal policies, procedures, and regulatory compliance readiness can be achieved through a thorough and objective internal audit that ultimately strengthens accountability across the organisations and reduces the risk of non-compliance. Achieving continuous compliance readiness minimises last-minute gaps, reduces audit bottlenecks and enables a smoother, more efficient audit process while strengthening overall framework.
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Strengthen Risk Management and Decision Making
Internal Audit provides a clear, structured view of enterprise risks as they arise. This enables business leaders to make informed, forward-looking decisions and mitigate potential disruptions way before they escalate.
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Drive Scalability and Change-Adaptive Processes
Once internal policies and procedures are improved, a more efficient and scalable operations are in clear view. Additionally, streamlined processes and workflows allow for smoother statutoy audit process and equips businesses with the agility to adapt to change and expand when market conditions become more favourable.
Investing in a robust internal audit function does more than just pave way for a seamless statutory audit. It helps build future-ready functions and controls that minimise the effects of risks and disruptions while equipping businesses with the readiness to take advantage of opportunities once the global expansion climate stabilises.
If you are looking to strengthen your risk management, governance, and compliance readiness, reach out to our team for a practical and forward-looking internal audit approach tailored to your business needs.
