Risk Trends in 2025 and Beyond

A leader’s guide to navigating Canada’s uncertain digital future

Welcome to a world of ever-evolving and integrated risks.

Think of the risk trends outlined in this report as dominos. When one falls, it can set off a chain reaction. Suddenly, dominos are tumbling and you’re scrambling in the background, trying to catch the pieces. 

Each risk your organization overlooks opens the door to more. And it can have significant financial and operational consequences. 

The following risk trends come from real-life experiences — based on actual assessments, research and the feedback we’ve received from our clients through MNP’s Internal Audit Services delivered for clients across Canada. 

As a 100 percent Canadian firm, MNP understands the unique challenges and opportunities faced by organizations across the country. Our Canadian roots shape our values and collaborative approach, ensuring we understand and support our clients every step of the way. 

Many of the trends mentioned in this report are already present and growing fast. Perhaps you’ve even seen these risks occur within your organization. But when it comes to impact, it’s hard to predict, as these trends affect organizations uniquely, depending on your industry, size, location, and preparedness. 

Canadian businesses and government agencies are still trying to find their way post-pandemic. Before 2020, many organizations had a sense of confidence over the effectiveness and efficiency of controls. Today, many struggle to keep up with the latest technologies, artificial intelligence (AI) applications, and evolving business models that help meet the demands of new and younger customers. 

Those who do not take well-calculated risk, who do not invest in continuous innovation will fall behind. But at the same time, they must not allow hackers or fraudsters to cause losses or disruption. The most successful will invest proactively in risk trend awareness, enterprise risk management, balanced internal controls, a high-value internal audit function, and good governance.

The findings in this report highlight essential practices and drive home the importance of the basics. Asking the right questions is important, but prevention and preparedness are more critical — and are often less costly than reacting to problems once they arise.

This report digs into these risks, highlights key questions, and points out red flags you should watch for. 

The only certainty seems to be living with uncertainty. Though, with uncertainty comes opportunity.

MNP Internal Audit Services Team