Bruce Turner, “an active company director and audit committee chair”, was recently interviewed on this topic. You can see the full interview at CERM Risk Insights and there is also an article in Future of Professions.
The second of these, the article, has some interesting observations that I will let you read at your leisure.
When Bruce is asked about how the profession of internal auditing should change, he makes some points worth repeating here:
There are three fundamentals to internal auditors adapting to the changes confronting them – demonstrate impact; embrace technology; and apply a balanced approach.
Auditors will need to continuously demonstrate the value of their work if they are to receive sufficient and sustained funding. They will need to work more efficiently while operating in unpredictable conditions, and it will be imperative to leverage technology to compensate for the likely loss of people within their audit teams. Auditors need a balanced approach, whereby audit technology is used wisely and strategically, and blended with physical interactions with clients to witness organizational culture and operational practices firsthand.
Bruce was asked additional questions that are reported in the CERM piece. One relates to that point in the article about the use of technology.
The question…
