Protiviti’s Jim DeLoach and Brian Christensen have been sharing their insights on the Corporate Compliance Insights blog on the Internal Auditor of the Future and the vision of how current audit functions should be transformed to meet future needs.
Here are the three parts of the series which all internal auditors should read:
- Internal Auditors: Want to Ensure your Value and Relevance? Raise the Bar Within Your Profession
- 9 Ways Auditors Deliver Tangible Value
- The Auditor’s Role In Advancing Communications
[dvlabel]KEY TAKEAWAYS[/dvlabel]
I think my biggest takeaway is that the Auditor of the Future must focus on adding value (and demonstrating that value) to the organization. That means that Internal Auditors have to think strategically about risk and the impact that observations may have on the organization as a whole, not just the silo that you’re auditing. It also means that Audit needs to explore options to engage with the business more regularly to get in front of potential risks before they are realized. Continuous auditing techniques, data analytics, and integration into active projects will be critical for audit’s ongoing success. No one likes to be audited after the fact and told what they did wrong. Finally, I think the last article in the series is the most important. Internal Audit must focus on effectively communicating with the audit committee and other members of management in a way that is relatable and relevant.
So what do you think? Does Jim and Brian’s view of the future align with your experience? Share your thoughts in the comments below.
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