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Value Proposition

Value Proposition: Internal Auditing's Value to Stakeholders

What should the governing bodies and senior management expect from internal auditing?

To help internal audit activities effectively communicate the value of their work to primary stakeholders — such as audit committees, boards of directors, management, and audit clients — The IIA has developed an easy-to-understand message tool. It’s memorable and adaptable.

Communicated visually by three intersecting circles, the “value proposition” is based on the three core elements of value delivered by internal auditing to an organization: assurance, insight, and objectivity. Focusing on these three core internal audit concepts within your communication with stakeholders will enable them understand the core value your internal audit activity provides.

Internal Auditing = Assurance, Insight & ObjectivityValue1.jpg

Governing bodies and senior management rely on internal auditing for objective assurance and insight on the effectiveness and efficiency of governance, risk management, and internal control processes.

To expand the explanation of internal auditing’s value, it can be defined by sub-values:

Value2.jpgASSURANCE = Governance, Risk & Control 

Internal auditing provides assurance on the organization’s governance, risk management, and control processes to help the organization achieve its strategic, operational, financial, and compliance objectives.

INSIGHT = Catalyst, Analyses, & AssessmentsValue3.jpg

Internal auditing is a catalyst for improving an organization’s effectiveness and efficiency by providing insight and recommendations based on analyses and assessments of data and business process.

Value4.jpgOBJECTIVITY = Integrity, Accountability, & Independence

With commitment to integrity and accountability, internal auditing provides value to governing bodies and senior management as an objective source of independent advice.

NOTE: Because internal auditing is a global profession, alternate values may be considered in the intersecting circles to accommodate language translation. Suggested alternate values include: compliance, counsel, consultation, value-add, recommendations, support, constructive, efficiency, credibility, quality, and competence.

Downloads and Links

The Value of Internal Auditing for Stakeholders
Brochure that can be used to help your stakeholders understand the value of Internal Auditing.
Internal Auditing: Assurance, Insight and Objectivity
PowerPoint presentation and flyer on how internal auditing provides value to audit committees, governing bodies, and senior management
Adapting the Value of Proposition for Local Cultures
Document explaning how the descriptors and sub-descriptors for the value of internal auditing can be adapter for use in various cultures and languages