Things internal auditors should do in these turbulent times

Claire Berry has shared an excellent set of Ten Things Internal Audit Teams Should Do In Turbulent Times:

1. Refresh the Risk Assessment
2. Be Agile with the Audit Plan
3. Monitor for Control Breakdowns
4. Audit Crisis Response and Continuity
5. Watch Third-Party Risk
6. Support Cost Containment
7. Keep Ethics in Focus
8. Communicate with Courage
9. Track Regulatory Shifts
10. Support Your Team

These ten points, with a few bullet points of detail for each, are outstanding!

There’s a lot to consider and act upon.

Congrats, Claire!

Let me add to her list:

11. Make sure risk management processes are effective. (See my latest book).They are even more important in chaotic times. The greatest risk may be a risk management failure!
12. Be ready to change direction at a moment’s notice. Every day is bringing change that may affect the business, your team members, other employees, customers, vendors, and more. For example, make sure you will know if a fellow employee is arrested, or an overseas vendor decides to stop shipping materials you need because of tariffs.
13. Start and finish every day with your team, making sure not only that they are OK, but also that what they are doing and will do over the…