Format: On-demand
Formerly called The Consulting Engagement.
Emphasis in recent years has been placed on control testing to ensure controls are working effectively and efficiently, but emerging thought leadership indicates that the internal audit value proposition can best be accomplished through internal audit advisory services. Although most internal audit functions would like to spend more of the annual budget on advisory engagements, most organizations require a baseline of assurance work to be performed.
In a dynamic and changing environment, internal audit functions need to maintain forward-looking consulting services to provide education on and facilitate strong governance, risk management, and control processes — rather than auditing controls that will change with new systems, processes, or organizational restructuring.