By Amanda Mowat, Protiviti*
The value of internal audit as a critical component of corporate governance and risk management is an undisputed fact. However, within an increasing audit universe, there is an elephant in the room that often escapes notice during the audit planning process but can have significant implications for the business if left unaddressed. Part one of this two part series, introduces this elephant: the need for oversight and monitoring of project risk. The final part of the series discusses what traps to avoid when reviewing project risk and internal audit’s growing role in this area.