Does Your Internal Audit Department Understand All the Tools It Has?

Norman Marks, CRMA, CPA, was a chief audit executive and chief risk officer at major global corporations for more than 20 years. The views expressed in this blog are his personal views and may not represent those of The IIA.

 

Earlier this year, I appeared on an IIA AuditChannel.tv video “Rethink Your Approach to Technology.” I spoke to the need to look first at what your organization already owns and is using before acquiring solutions specifically for internal audit. Too few internal audit departments understand how they can use technology for analytics and business intelligence for their own data mining, continuous auditing, and monitoring. I am interested in your views on the advice I provided in the video.

But there’s another set of tools in every internal audit function: the intellect, curiosity, and imagination of the members of the team.

We pay lip service to “people are our greatest asset” and provide them with technical training. But are we developing their ability to listen, to think, and to imagine creative new ways to run the business?

We need to pay attention and help develop how auditors use their “eyes, ears, and the space in between.”

Here are some sources for you to consider:

Do you have other resources to share?

What are you doing to maintain and develop those precious assets?

Posted on Dec 2, 2013 by Norman Marks

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