How useful is the updated IIA guidance on auditing risk management? Is there a better way?

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On the same day that I published my last blog post, Important survey results for internal audit, boards, and management, explaining how internal audit can help their organization upgrade risk management processes, I saw the IIA President and CEO, Anthony Pugliese, announce:

UPDATED GLOBAL PRACTICE GUIDE: Assessing the Risk Management Process, 2nd Edition

Risk management goes beyond compliance with regulations and external pressures. Every organization stands to gain by either establishing a risk management process or refining those already in place. Effective risk management not only boosts an organization’s ability to meet strategic and performance goals but also enhances value for stakeholders.

The second edition of our guide, now updated to reflect The Institute of Internal Auditors Inc.’s new Global Internal Audit Standards™, is designed to help internal auditors evaluate and improve their organization’s risk management practices. Download a copy at the link below.

https://lnkd.in/ehfaKVg4

Let me recap some history.

Roll the calendar back to 2009, which is when the ISO 31000:2009 Risk Management Standard was published.

Several of us were concerned that IIA staff and volunteer leadership didn’t have a sufficient understanding of risk management, even though it is essential to achieving enterprise…

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