By Christopher Wright and Steve Hobbs, Protiviti
As the United States, along with every major capital market, moves toward International Financial Reporting Standards (IFRS), it is important for internal audit to sort out its role as a participant in the process. No matter what the SEC does, convergence seems likely to continue to occur and companies, public or private, should prepare for that eventuality. It is not too soon to focus on the process and the role internal audit can best play.