Internal Audit Transformation | Protiviti - Australia

Internal Audit Transformation

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Protiviti’s internal audit transformation professionals help organisations align the practice of internal auditing with expectations of key stakeholders, including senior management and the board of directors.

 

Most organisations' internal audit functions are experiencing significant changes due to demands of shareholders, stock exchange mandates, Securities and Exchange Commission regulations and the Sarbanes-Oxley Act of 2002. Protiviti's professionals help organisations transform their internal audit functions by bringing a systematic, disciplined approach that improves the overall effectiveness of their risk management.

 

Internal audit transformation draws upon the experience of Protiviti’s internal audit professionals who work with hundreds of internal audit organisations worldwide. Our systematic and disciplined approach aligns stakeholder expectations with leading internal audit practices and ensures the internal audit activity is operating at an appropriate level of performance that provides the highest value to the Organisation.

 

12 Ways Internal Audit Can Contribute More Value

 

Today’s auditor should touch significant aspects of business operations, including IT security, business continuity and crisis management, supply chain management, operating expenditures, talent management compliance management, and more.

  1. Think more strategically when analysing risk and framing audit plans.
  2. Provide early warming on emerging risk
  3. Broaden the focus on operations, compliance and non-financial reporting issues.
  4. Strengthen the lines of defence that make risk management work.
  5. Improve information for decision-making across the Organisation.
  6. Watch for signs of a deteriorating risk culture
  7. Expand the emphasis on assurance through effective communications with management and the board
  8. Collaborate more effectively with other independent functions on managing risk and compliance
  9. Leverage technology-enabled auditing
  10. Improve the control structure, including the use automated controls
  11. Advise on improving and streamlining compliance management
  12. Remain vigilant with respect to fraud