By Nancy Hala, KnowledgeLeader contributing writer
The fourth volume of Protiviti’s Internal Auditing Around the World examines the challenges and successes of 19 top-performing internal audit teams, many operating with only a handful of full-time personnel – some staff members working on-site, others based in different business units and distant locations. The internal audit functions featured within represent organizations headquartered in Australia, Brazil, Canada, France, Germany, India, Italy, Mexico, the Netherlands, Singapore, the United Kingdom and the United States. It also includes a diverse group of industries, such as aviation, entertainment, financial services, food processing, mining, manufacturing, publishing and technology.
In-depth interviews with the internal audit leaders at these companies revealed that even the most streamlined teams are, by and large, finding success, although individual members might be required to take on more responsibility than they would in a larger department, and are expected to commit to ongoing education to enhance their knowledge and skill sets. Today’s internal audit functions are achieving their objectives and improving operations by being resourceful and flexible, engaging in ongoing and meaningful dialogue with management about internal audit activities and their alignment with company goals, stressing the importance of internal controls throughout the organization, and relying on technology to help manage routine auditing tasks and free up time for other key projects such as risk assessment.
One of the key takeaways from the internal audit functions profiled in this publication is that today’s internal auditors are actively striving to be highly visible to the entire operation. To achieve this, many auditors must travel to far-flung destinations to learn firsthand about their company’s activities and industry. They also must build strong relationships with personnel throughout the organization, and with external auditors and other outside resources.
The 19 companies featured in this publication are: Airservices Australia, Alitalia, Antalis, Cadence Design Systems, Cirque du Soleil, Electronic Arts, Endurance Group, Harvard University, Henkel, McDermott, Océ, Olympic Delivery Authority, Ontario Teachers’ Pension Plan, Peñoles, Reader’s Digest, Reed Elsevier, Robeco, Sadia, Singapore Press Holdings.
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(77 pages, 3.5 MB)