My Ideal Internal Audit Department
How about these as attributes of an ideal internal audit department?
- A cool place to work.
- A source of talent.
- The talk of the office — "How come they have so much fun?"
- The department people want to transfer to, but hate to leave.
- The source of projects that are noticed, that will be told to the team’s grandchildren.
- The internal consultants of choice.
- Recognized internally and externally as leading-edge, more than world-class.
- Fully leverages the continuous risk identification, assessment, and monitoring of the organization’s risk management processes (automated processes, by the way).
- Fully leverages advanced continuous monitoring and auditing capabilities.
- Praised by the audit committee and top management because they “help them sleep at night.”
- Expanding into new and cool stuff, even if not traditional audit areas (e.g., process and control improvement — Six Sigma/Lean SWAT teams).
- Where people are set free to choose an audit approach that stimulates and develops (choosing tools such as control self-assessment workshops, business intelligence dashboards, monitoring of key metrics, and red flag detection), as well as getting to the heart of the problem — tackling the root issues head on.
- Where the customer says, “There has not been an audit I would not gladly pay for.”
- Where internal auditing is seen by management as a competitive advantage.
How would you add to this list?
Posted on Mar 3, 2010 by Norman Marks
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