Internal Auditing Around the World, Volume 17– Going Beyond Limits To Build Resiliency
Amid Chaos and Uncertainty, Internal Audit Stands as a Beacon of Resilience
Internal auditors, by nature, like order and certainty. But the global health crisis has allowed for none of that. Its disruption thrust internal auditors into the uncomfortable position of having to completely abandon or revise their well-thought-out plans and familiar checklists and processes — fast.
They had to pivot — often, multiple times — to ensure they did not falter in providing independent assurance that their organisation’s risk management, governance and internal control processes were operating effectively. But many internal audit functions needed to be more agile and flexible than ever before for another critical reason: The business needed their help to survive.
For this edition of Internal Auditing Around the World®, we thought it appropriate to focus on the topic of resilience, given everything internal audit teams and their companies have been through lately. More specifically, we asked chief audit executives (CAEs) and their colleagues: “What is internal audit’s role in business resilience?” To summarise their responses: It’s pivotal.
This is not conjecture or hubris; it’s a fact. The stories we present herein illustrate just how critical internal audit functions are in helping their organisations not only maintain resilience, but also increase it and find ways to grow it in the future.
The organisations profiled in the 2021 edition of the study represent a cross-section of countries and industries and include Booking.com, Centene Corporation, DBS Bank Ltd, FIS Global, Global Foundries, Grupo Bepensa, Inchcape, Knowles Corporation, Masonite, Saudi Telecom Company, Standard Chartered, TrueBlue and others.
The profiles of these and other companies featured in this publication showcase the significant role internal audit has in driving business resilience. These stories also help to highlight how businesses define and perceive “resilience” differently, and that resilience can take many forms — including strategic, cyber and operational resilience.
View Previous Volumes:
- Vol. 16: The Future Auditor Has Arrived
- Vol. 15: Next-Gen Internal Audit - Are You Ready?
- Vol. 14: Taking on Digital
- Vol. 13: Navigating the Complexities of Corporate Culture
- Vol. 12: Perspectives from Women in Audit Leadership Roles - How Technology Is Impacting Internal Audit Functions
- Vol. 11: Strengthening the Profile of Internal Audit
- Vol. 10: Building on Experience to Shape the Future Auditor
- Vol. 9: Partnering Effectively Across the Organisation
- Vol. 8: How Internal Audit Functions Develop Great People
- Vol. 7: Internal Audit's Role in Leading Enterprise Risk Management Initiatives
- Vol. 6: Profiles of Technology-Enabled Internal Audit Functions at Leading International Companies
- Vol. 5: Profiles of Internal Audit Functions at Leading International Companies Undergoing Significant Change
- Vol. 4: Profiles of Internal Audit Functions at Leading International Companies
- Vol. 3: Profiles of Internal Audit Functions at Leading International Companies
- Vol. 2: Profiles of Internal Audit Functions at Leading International Companies
- Vol. 1: Profiles of Internal Audit Functions at Leading International Companies