Old Mutual plc is a leading international long-term savings, protection, banking and investment group that serves more than 16 million customers in over 20 countries around the world. It has streamlined its internal audit department in recent years, reducing staff from 360 to 290, to bring in more resources with deeper capabilities in a range of specialized or technical areas. They now have fewer but more highly skilled people, and have been able to boost the expertise of teams in different markets.
In this profile, Paul Marshall, internal audit director, stresses the importance of improving the way internal auditors communicate with management and the board. The internal audit function refrains from using language only internal auditors understand.