Internal audit needs to perform in a way that matters to the board and top management

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This last year, I have been talking to conferences around the world (most recently in Singapore, but also in the US, Brazil, the Czech Republic, and Sweden) about Auditing that Matters. It is based on my book of the same name (which covers much more than I can address in an hour or longer presentation).

I don’t expect to be able to persuade everybody to change from traditional practices, but hope they will at least ask themselves:

  • “Why am I doing what I am doing?”
  • “Am I doing the work that I should, providing the assurance, advice, and insight my customers on the board and in top management need to be successful?”
  • “Do my work and the assurance, advice, and insight I share really MATTER to the board and top management? Is it helping them succeed?”
  • “Is there anything I can STOP doing to free up more time on issues that really matter to my customers?”

Have you asked yourselves those questions?

  • Are you continuing practices just because that is what you have always done?
  • Are you doing things just because policies and IIA standards require you to do them? Or because you think the audit committee or regulators expect you to do them?

If so, is that acceptable? Are those answers you would accept from an ‘auditee’ – someone who is doing things because that is how they have always been done?

Let…

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