Is Your Internal Audit Team Providing Value?

PHOTO:
Christiann Koepke
Public accounting firms are recognizing the value that an effective internal audit team can provide an organization —  an encouraging sign.
PwC's Take on Internal Audit
Let’s first look at a few of PwC's observations:
"Maximizing the value proposition of the internal audit group is an effective way to help audit committees address their risk oversight responsibilities. But getting internal audit’s full value requires focus and attention. It requires the audit committee to reflect on what it needs and to be direct with internal audit."
Internal audit can help with more than “risk oversight.” For example, at one company where I was chief audit executive (CAE), the board was concerned with the leadership of the CEO. The board chair asked for my insights on the executive team and whether they were effective as a team. I have also helped the audit committee with their oversight of the external auditors, gathering an assessment of their performance from the global management team.

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