Read Richard Chambers' Latest Blog
An Early Look at Internal Audit Priorities for 2019
In his blog, IIA President and CEO Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession. Here's an excerpt from his latest post:
Like the speed of risk, the end of 2018 is approaching very rapidly. That means many of you are putting the finishing touches on your 2019 annual internal audit plan. I am sure that your process has been exhaustive, and you are preparing to present a plan for your audit committee that will reflect the risk-based priorities appropriate for your organization. However, before the ink dries on your plan, I thought you might find it useful to take an early look at the priorities your peers are planning to address in the year ahead.
Risk defines the world of the internal auditor. Ultimately, risk is what shapes our audit plans, directs our stakeholders, and determines our success or failure. That is why we spend so much time and effort helping our organizations identify, understand, and mitigate or leverage risks. Understanding the unique mix of risks our organizations face, and the risk appetites of our stakeholders, is crucial to internal audit adding value.
A number of organizations produce annual reports that attempt to peer at the horizon to identify risks in the coming year. Sometimes, it is easy to predict what those risks will be, as some major ones are long term, if not perpetual. The challenge is to identify or anticipate unexpected, emerging, or atypical risks that may mature in the coming weeks or months, in hopes of preparing to gird against them or use them to benefit the organization.
Read the full InternalAuditor.org blog post from IIA President and CEO Richard Chambers.