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The Institute of Internal Auditors North AmericaBreadcrumb SeparatorNewsBreadcrumb SeparatorBlog: Stakeholders Have Last Word on Whether Internal Audit Adds Value

Read Richard Chambers' Latest Blog
Stakeholders Have Last Word on Whether Internal Audit Adds Value

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:

If you were to ask your stakeholders to describe how internal auditing adds value, you might receive a different response from each person you talked to. The CEO might focus on recommendations for improving efficiency, while the chief financial officer might describe audit value in terms of cost savings.

One audit committee member might discuss independence and objectivity, while another might mention assurance. And a chief information officer might refer to your advice about a troublesome information security issue, but a human resources director might describe the value of internal audit as a pipeline for organizational leadership.

Each of their observations about internal audit value would likely be accurate, yet their conclusions regarding the overall value of internal audit might be very different depending upon their individual needs and expectations.

Read the full InternalAuditor.org blog post from IIA President and CEO Richard Chambers.