Management Does Not See Audit As A Strategic Partner
“Auditors come in after the battle and shoot the wounded.” This old-fashioned characterization of internal audit still drives perceptions today. What can you do to demonstrate extraordinary value to management and shift your company’s culture?
Audit’s mandate has expanded greatly over the past several years. Historically, auditing was simply a matter of identifying the right standard and then testing for compliance. This limited perspective is inadequate to effectively implement a 3-line-of-defense-based model. Audit departments must implement practices to partner with management to strategically address matters of risk and control, while maintaining independence. Ramaley Group offers best practices in management engagement, including a “Self-ID Issue In a Box” product which can allow for increased visibility and effectiveness of the audit function. Contact us to learn how your department can get beyond finding policy violations and can increasingly influence management’s risk perspective as a trusted advisor.