There’s a new article that merits our attention. It’s from the software vendor, MetricStream.
Strengthening Internal Audit’s Business Impact makes some good points:
- From corporate policemen to strategic advisors, internal auditors have come a long way over the past decade. Today, boards and leadership teams are looking to them not just to point out where internal controls are inadequate or ineffective, but to provide insights on how the business can improve its efficiency and operating effectiveness.
- One of the simplest ways for internal auditors to create value is to ensure that their objectives and plans are always aligned to business objectives.
- Internal auditors might even want to challenge the business objectives to ensure that they are precise, attainable, and practical.
- Many audit training programs focus on enhancing the technical skills or domain expertise of the audit team, but it’s just as important that they build the team’s business knowledge as well.
- Reporting is internal audit’s opportunity to weave together what they’ve seen and observed into one cohesive set of insights that can help the business catalyze efficiency, performance, and growth.
- When business leaders understand which audit issues are most likely to impact the achievement of their goals, they can then prioritize their…
