An internal audit is the most effective method of providing stakeholders with an overview of an organisation’s health. More than just the financials, it can educate management on the significance of deficiencies in governance, risk management and internal control processes and the value of preventing or detecting and correcting such deficiencies before they erode organisational value.
 Malefetsane Mohlakoana |
The internal audit exists to help organisations create, preserve and sustain strategic value. However, this is not always clear to all the organisational stakeholders who should benefit from internal audit’s assurance and consulting services.
Internal auditors need to educate stakeholders about what a well-supported and effective internal audit function can do to help optimise operations; positively influence decision-making; prevent penalties from non-compliance with laws and regulations; grow market share; improve customer service delivery; enhance public relations; and even propose innovative solutions to sustain competitive advantage.
In this task, stakeholders across all levels within the organisation should be included. No single position or structure is too important or unimportant to…
