Internal auditing, as noted in The Institute of Internal Auditors’ formal definition, is about “adding value and improving an organization’s operations.” Few would argue with the assertion that such objectives have never been more critical than in the current business environment, where virtually every organization worldwide is facing unprecedented challenges. Yet there are signs progress is being made, especially when considering the current global crisis from an internal audit (IA) perspective.
Without question, the risk landscape has changed dramatically since 2005, when we published the first volume of Internal Auditing Around the World. Four years ago, many organizations were investing more in their IA functions as they sought to comply with the internal control requirements of the Sarbanes-Oxley Act. Not surprisingly, internal auditors today find themselves in a very different place and facing challenges difficult to imagine just a short time ago.
How are IA functions helping their organizations adapt and even succeed in these unprecedented times? In this year’s guide, we feature 11 successful international companies that are undergoing significant changes, such as restructuring, mergers and acquisitions, and industry transformation. As detailed in this publication, we learned that these organizations have not only adapted successfully, but that they also have uncovered many untapped opportunities.
To address these priorities, many of the IA leaders in these profiles have identified ways to partner more effectively with their boards and management, as well as provide accountability to external stakeholders such as investors and customers. Now, more than ever, boards, management and other stakeholders are looking to internal audit to help them navigate the uncharted course ahead. At Protiviti, we recognize that change can be difficult but also brings opportunity. We hope these profiles will provide guidance and inspiration to CEOs, CFOs, CAEs, boards of directors and IA professionals worldwide as they address the challenging times ahead.
The 11 companies featured in this publication are: Bank Mandiri, Barrick, Continental Airlines, Enel, FEMSA, Gemalto, Microsoft, Prudential plc, Tata Motors, Unilever, and UnitedHealth Group.
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