Internal audit functions already embracing next-generation technologies, tools and methodologies are best placed to overcome organizational challenges caused by pandemic
In the 17th edition of its Internal Auditing Around the World® profile series, global consulting firm Protiviti shares findings from in-depth interviews with chief audit executives from some of the world’s well-known companies about recent challenges and developments in the internal audit profession. The report highlights the pivotal role played by internal audit organizations in helping companies build and maintain business resilience during the chaos and uncertainty of the last year. This is especially true for internal audit functions that had already taken steps before the start of the pandemic to create a next-generation organization.
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The companies profiled in the 2021 edition of the study, titled “Going Beyond Limits to Build Resiliency,” represent a mix of countries and industries and include Booking Holdings, Centene Corporation, DBS Bank, GlobalFoundries, Grupo Bepensa, Inchcape, Standard Chartered, TrueBlue and others. The study is available for complimentary download here.
“This year’s report shows internal audit leaders who through their agile handling of the Covid crisis have become trusted advisors to the business, providing leaders with valuable insights into the organization’s state of resilience and the health of its corporate culture as well as key business issues,” said Brian Christensen, a Protiviti executive vice president and leader of the firm’s global internal audit and financial advisory practice. “Although the transformation journey for the profession is not yet over, the pandemic has been a catalyst for launching the internal audit function into the higher-profile areas of the business. The challenge now for CAEs and their teams is to continue building on this momentum.”
The new edition of Internal Auditing Around the World asks how internal audit leaders have dealt with the business challenges of the last twelve months and what effects their actions have had on their companies and their roles within them.