New Global Thought Leadership from The IIA
Beyond the numbers – Internal audit’s role in nonfinancial reporting
ALTAMONTE SPRINGS, Fla. (Nov. 9, 2015) — Demand is growing on publicly traded companies to share additional nonfinancial information, as traders and regulators look for every assurance that hard-earned dollars are being invested wisely. Indeed, every organization has a story that goes beyond the numbers contained in traditional financial statements.
The challenge to both businesses and investors is that the information provided in a nonfinancial report be material, accurate and of value and not just the product of pressure to report on anything that can be measured.
The Institute of Internal Auditors’ latest edition of Global Perspectives and Insights takes on the issue of nonfinancial reporting, outlining the vital roles internal audit should play, from providing assurance on the accuracy and reliability of reports to nurturing a culture of integrated thinking within the organization.
“Nonfinancial reporting is increasingly becoming a must-do for organizations around the globe,” said Larry Harrington, IIA global chairman. “This report provides strong insight into the important role internal audit plays, including becoming a change agent for integrated thinking within the organization.”
The report, Beyond the Numbers — Internal Audit’s Role in Nonfinancial Reporting, outlines how the internal audit function can serve as a change agent, participate in project teams, provide assurance, and partner with external auditors. It also provides additional practical information on the regulatory landscape, establishing a nonfinancial reporting program, and a short case study on how one large Asia-Pacific organization established its nonfinancial reporting practices.
The report is available in seven languages, including English, Chinese, Spanish, and Arabic, to members through The IIA’s national Institutes in 105 countries and territories around the world as well as through its global website.