A world-class audit department performs key practices that can be categorized as people-related, process-related or positioning-related. People-related practices affect the human capital: how departments attract, develop and retain their talent and preserve their institutional memory. Process-related practices are composed of defined, repeatable tactics that can be taught, measured and enhanced. Positioning-related practices pertain to the audit department’s role in relation to the board and C-suite.
In this article, Ann Butera, president of The Whole Person Project, Inc., outlines the key attributes that make an effective team of auditors—not just a collection of individuals.