Read Richard Chambers' Latest Blog
"Where Was Internal Audit?" — Hopefully Following the Risks
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:
As a global leader in the internal audit profession, among the questions I dread hearing the most is: "Where was internal audit?"
When the whereabouts of internal audit is pondered by media and others, there has typically been a high-profile corporate failure that has impacted a company's share value and investor confidence. The question also arises when there has been a scandal or highly publicized failure in government that has rattled public trust.
The question itself clearly suggests that an organization's last line of defense failed to do its job. While I acknowledge that sometimes internal audit does drop the ball, I am often troubled by how quickly the question is posed. Jumping to the conclusion that internal audit could have prevented a failure is often akin to blaming a quarterback for being sacked or a goalie for giving up a score without examining the performance of the rest of the team.
Read the full InternalAuditor.org blog post from IIA President and CEO Richard Chambers.