​​My Ideal Internal Audit Department

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​​​How about these as attributes of an ideal internal audit department?

  • A cool place to work.

  • A source of talent.

  • The talk of the office — "How come they have so much fun?"

  • The department people want to transfer to, but hate to leave.

  • The source of projects that are noticed, that will be told to the team’s grandchildren.

  • The internal consultants of choice.

  • Recognized internally and externally as leading-edge, more than world-class.

  • Fully leverages the continuous risk identification, assessment, and monitoring of the organization’s risk management processes (automated processes, by the way).

  • Fully leverages advanced continuous monitoring and auditing capabilities.

  • Praised by the audit committee and top management because they “help them sleep at night.”

  • Expanding into new and cool stuff, even if not traditional audit areas (e.g., process and control improvement — Six Sigma/Lean SWAT teams).

  • Where people are set free to choose an audit approach that stimulates and develops (choosing tools such as control self-assessment workshops, business intelligence dashboards, monitoring of key metrics, and red flag detection), as well as getting to the heart of the problem — tackling the root issues head on.

  • Where the customer says, “There has not been an audit I would not gladly pay for.”

  • Where internal auditing is seen by management as a competitive advantage.

How would you add to this list?​


 

 

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