The future of internal audit is now
Leverage the organizational strategy
Don’t gamble when it comes to addressing risk. Use the organization’s business strategy to identify the risks that matter most.
To create value and maximize relevance to the organization, chief audit executives (CAEs) need to have a solid understanding of the organization’s broader business imperatives.
However, when we asked respondents whether internal audit has a documented mandate that is aligned to the business, 61% said no.
Internal audit can use the organization’s overarching organizational strategy to identify the risks that matter most in the context of the organization’s risk appetite.
Elements of the organizational strategy will vary by industry and are very specific to the business. But to remain relevant, internal audit needs to use risk assessments based on the organization’s strategic objectives.