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Global Institute of Internal AuditorsBreadcrumb SeparatorNewsBreadcrumb SeparatorNew Report Weighs Internal Audit Responsibilities

​New Report Weighs Internal Audit Responsibilities

Based on CBOK research, study examines how audit executives strike an optimal balance between assurance and consulting services

LAKE MARY, Fla. (March 12, 2019) —The Internal Audit Foundation announced today the release of a new research report, Striking an Optimal Balance Between Assurance and Consulting Services – Practical Insights from Internal Audit Leaders, based on the Foundation’s comprehensive Common Body of Knowledge study.

The report, developed in partnership with Protiviti, was authored by Karen Brady, CIA, CRMA, CFE, who is Vice President of Audit and Chief Compliance Officer at Baptist Health South Florida.

As part of the research for this report, chief audit executives (CAEs) were asked to provide insight into how they balance assurance responsibilities with the types of consulting and advisory work that boards and management teams increasingly are requesting from their internal audit function. Audit executives described an ironclad commitment to maintaining internal audit objectivity and prioritizing internal audit’s assurance services over all other activities. However, the need for internal audit objectivity does not preclude them from successfully providing a wide range of internal audit advisory services, according to the report.

CAEs whose audit functions devoted 20 percent or more of their resources to advisory work said that it is not difficult to maintain objectivity as long as a handful of key practices are followed. Those practices are described in the report.

The consulting practices and approaches shared by the audit executives are compelling reading, in large part because of the benefits that resulted from their approaches — benefits for both the internal auditors and for the organizations and stakeholders they serve.

The report is one in a series stemming from the Internal Audit Foundation Common Body of Knowledge (CBOK) study. CBOK is the world’s largest ongoing study of the internal audit profession. Like all reports in the CBOK Stakeholder and Practitioners series, this new report is available free of charge at the CBOK Research Exchange ( It is also available at the Protiviti website ( 


John Babinchak

About the Internal Audit Foundation

The Internal Audit Foundation (Foundation) is the donor-supported arm of The Institute of Internal Auditors (IIA). The nonprofit Foundation conducts groundbreaking research and scholarly publishing, offers essential career development and thought leadership products through The IIA Bookstore, and works with colleges and universities through the Internal Auditing Education Partnership (IAEP) program to enlighten the next generation of internal auditors. For more information, visit or

About Protiviti

Protiviti ( is a global consulting firm that delivers deep expertise, objective insights, a tailored approach and unparalleled collaboration to help leaders confidently face the future. Through its network of more than 80 offices in over 20 countries, Protiviti and its independently owned Member Firms provide clients with consulting solutions in finance, technology, operations, data, analytics, governance, risk and internal audit. Protiviti is a wholly owned subsidiary of Robert Half (NYSE: RHI).  

About the Author

Karen Brady, CIA, CRMA, CFE, is Vice President of Audit and Chief Compliance Officer at Baptist Health South Florida, which includes 10 hospitals, over 40 physician practices, and more than 50 outpatient facilities. Brady has more than 30 years of professional experience and has been with BHSF for over 20 years. She also has served in a number of volunteer positions with The Institute of Internal Auditors, including as chair of The IIA’s North American Board.