May is International Internal Audit Awareness Month and we want to tell the world that we are proud to be internal auditors.
International Internal Audit Awareness Month aims not only to dispel misconceptions about the profession, but to enhance the business community’s knowledge of the essential role internal audit plays in strong organisational governance, internal control, and effective risk management.
According to the Institute of Internal Auditors (IIA), when management and boards fully appreciate the value of internal auditing, they ensure the internal audit activity is adequately resourced and effectively utilised. With new risks, opportunities and regulations emerging every day, internal auditors have a tremendous opportunity to guide their organisations through historic change.
Don’t let the pandemic get in your way. InConsult encourages all organisations with an internal audit department to get involved this May. So here are our 7 strategies to boost internal audit awareness and improve the level of engagement with managers and staff:
- Auditors love internal controls and are the internal control design experts. Internal audit teams can host an on-line Internal Control Awareness Training session for all managers.
- Younger people love social media, engage them with internal audit memes and/or short educational videos from our YouTube – One Minute Risk Manager channel.
- Have an on-line meeting catch up (and coffee) with managers who may be struggling to implement past audit recommendations and help them to move forward.
- Host an on-line webinar for all staff to introduce the audit team members and members of the Audit and Risk Committee, outline exactly what internal audit does and doesn’t do.
- Update the Internal Audit Page of your companies intranet page.
- Review your Strategic Audit Plan including any realignment to the organisations risk profile and assurance framework.
- Help senior managers and risk owners to review and update their risk registers via a workshop or an on-line meeting.
Find out more about International Internal Audit Awareness Month and get even more ideas on how to raise awareness at the Institute of Internal Auditors website.
Remember that whatever you do, it’s all about keeping the role of internal audit and internal controls front of mind.
InConsult Delivers Internal Audit Quality
In November 2020, InConsult engaged the Institute of Internal Auditors Australia to conduct an independent External Quality Assessment of our internal audit services and InConsult achieved the highest rating possible of “Generally Conforms”.
Our clients can be reassured that InConsult is committed to quality and continuous improvement and that our internal audit activities are conducted in accordance with the International Standards for the Professional Practice of Internal Auditing (Standards).
Select from either one-off special audits, co-sourced or outsourced internal audit options and we will tailor our internal audit services to suit your needs, size of your organisation and your budget.
Check out InConsult’s Internal Audit and Assurance capabilities to find out how we can help you.