Internal auditors are having their reports “diluted or suppressed” or even seeing their careers derailed when they raise red flags within large corporations.
The allegations, by the head of the Institute of Internal Auditors Peter Jones, comes in response to criticism that internal auditors had lost their authority within large corporations, were too timid to “speak truth to power” and too readily intimidated into watering down their own reports.
Mr Jones was unable to provide specific details of his allegations but said the institute was aware of cases where internal auditors being ignored or punished for doing their job, which is to ensure that non-financial systems within a company operate as expected.
He said the banking royal commission and the prudential regulator’s…
