By Jill Benson, Protiviti Senior Manager
Senior management and boards of directors have started asking internal audit departments to help them gain a better understanding of how the organization manages risk, but rarely do they explicitly ask auditors to help them assess how they measure risks that could impair progress toward their objectives. This is an area ripe with opportunity for internal audit shops that are looking for new ways to add value to their organization. This article outlines several key questions auditors need to ask when initiating risk monitoring projects.