A look at 16 global companies leading internal audit’s evolution
Protiviti (www.Protiviti.com), a global consulting firm, has released the tenth anniversary edition of its Internal Auditing around the World www.protiviti.com/iaworld series of publications, which examines the pressing issues, new challenges and evolution of internal audit that affect global companies.
Titled Building on Experience to Shape the Future Auditor, the tenth edition of the publication profiles 16 global companies from a variety of industries, and explores the ways these organizations have been leaders in how they approach the internal audit function. Throughout this edition, the progression of the internal auditor’s role toward a strategic leadership function is a prevailing theme.
“Internal audit is most effective when it’s integrated across the organization and engaged in a way that helps to drive and facilitate the overall business strategy,” said Brian Christensen, executive vice president, global internal audit, Protiviti. “The role of the internal auditor has changed dramatically since we started this benchmark series ten years ago. There is a shift in internal audit from looking to the past to being more forward-looking and helping to improve the business.”
“The next generation of audit leaders will need to be multi-skilled and have a good understanding of business, finance, accounting and information technology,” said Audrey Han, chief audit officer at the National University of Singapore, which is profiled in Protiviti’s latest edition. “They also will need to be comfortable moving further away from the traditional ‘back room’ role to engage management in addressing emerging risks on a real-time basis.”
Protiviti identifies many ways that “future auditors” will serve as advisors and strategic business partners who provide even greater value to their organizations. They can do this by:
- sounding early warning alarms for emerging risks and helping to manage risk
- supporting operations and non-financial reporting issues
- improving the flow of information throughout the organization – including leveraging big data and real-time monitoring of business transactions to guide business decision-making.
Companies profiled in the tenth anniversary edition of Protiviti’s Internal Auditing around the World include Atlas Air Worldwide, Baidu, Barclays PLC, Booz Allen Hamilton, Estee Lauder Companies, NTT Data and Under Armour, among others.