CAE Strategic Framework
Value of a Strategy
- Align Internal Audit with the Enterprise
- Assure success in an uncertain environment
- Improve performance
- Stimulate creative thinking
Elements of the CAE Strategic Framework
- Establish strategy within the context of current Professional Practices
- Confirm needs of Client and manage the relationship
- Understand the underpinnings of process excellence: risk and control frameworks, risk management, governance, assurance processes, consulting processes, and reporting and follow-up
- Acknowledge leadership approaches required
- Ensure human resources are appropriate
- Leverage technology to meet strategic goals
- Monitor all elements of the strategy for success
The Professional Practices Framework
- The Professional Practices Framework forms the context for the CAE framework
- The courses examine ways to respond to risk management and governance requirements of the standards
Client Relationships
- Use the identification of client constituencies and their diverse needs to inform all elements of the integrated framework
- Manage conflicting client needs and expectations
Process Excellence
- Integrate risk models, under role of Internal Audit in governance
- Ensure that internal audit's own assurance and consulting processes enhance governance and risk management
- Communicate to the audit committee and other constituencies the intent, nature, and substance of the work
Leadership
- Use marketing, "branding," and personal influence to position internal audit as a key component of the organization's success and longevity
- Establish actual and perceived independence
- Establish yourself as a leader not only in internal audit but in the organization at large
Human Resources
- Align the competencies of internal auditors and adjunct professionals with process excellence and with client needs and expectations
- Ensure that internal auditors have the requisite competencies
- Staff engagements creatively, tapping internal and external expertise
- Groom the next generation of both internal-audit and organization leadership
Technology
- Leverage technology to enhance the CAE framework
Monitoring
- Monitor the elements of the CAE framework in a balanced and realistic way
- Use measurements to calibrate the framework