Globally, organizations face escalating financial, operational, strategic and physical risks that have been increasing steadily in terms of impact, likelihood and complexity. Corporate governance regulations and guidelines, financial reporting requirements, operational efficiencies, customer satisfaction levels – all these factors drive the internal audit (IA) functions of multinational companies to add value beyond any standard that has been set in the past.
In this booklet, we detail the IA best practices, processes and strategies being employed at 14 successful companies. The companies represent different regions, industries and markets. They are highly successful organizations competing in a dynamic global landscape. Excellence is the benchmark for these organizations – their internal audit functions have been shaped and, in some cases, reinvented by this level of achievement.