According to the FT (2019), the ‘Big Four’ accounting and audit firms have been hit by scandal after scandal and regulators, investors and the wider public have lost confidence in the audit market. This has bought increased attention on internal audit functions and the relationships they have with those external auditors as well as internal stakeholders.
Provetti’s 2019 Internal Capabilities and Needs Survey suggests that while a clear majority of internal audit functions are undergoing a transformation of some sort, these are in their early stages.
How does Internal Audit move from its traditional process driven approach to one that also includes a more proactive, digital and business focused approach? Rather than relying on their technical knowledge, Internal Audit professionals need to develop their relationship skills and understand that credibility, proactiveness, stakeholder management and a range of so called ‘softer’ competencies actually hold the key to successfully implementing these transformation programmes.
CourageousWorkplaces can help Internal Audit teams and individuals to;
• Gain new skills, knowledge and competencies to become more business focused e.g. to become ‘trusted advisors’ or ‘business partners’
• Provide advice, support, tools and resources to implement internal audit transformation programmes where the primary goal is to integrate Internal Audit into the business
• Build an organisational culture of integrity
If you'd like to know more then contact us.