Building a Better Internal Auditor
New CBOK report offers stakeholder advice to chief audit executives
ORLANDO, Fla. (22 March 2017) — The modern risk landscape is dynamic and ever changing and demands fully integrated efforts to identify and manage threats to the organization. This new reality is expanding the role of internal auditors and what is expected of them by management and the board.
A new report released here today, Stakeholders’ Advice to the Chief Audit Executive, offers key insights into what audit committees and management look for in heads of audit. They want chief audit executives (CAEs) who exhibit strong business acumen, have demonstrated leadership skills and can manage competing priorities as well as influence organizational culture, according to a survey of more than 1,100 board members, CEOs and CFOs from 23 nations.
The report, unveil at The Institute of Internal Auditors’ (IIA) annual General Audit Management conference at the Gaylord Palms resort, is part of the Common Body of Knowledge (CBOK) Stakeholder Study series produced by The IIA’s Internal Audit Foundation.
“The information in this report is invaluable to CAEs,” said IIA President and CEO Richard F. Chambers, CIA, QIAL, CGAP, CCSA, CRMA. “Understanding the qualities stakeholders look for in CAEs is essential to building the trusting and productive relationships that help manage risks and meet organizational needs.”
The report includes insightful commentary from stakeholders that add perspectives to the findings as well as lists of action items for achieving success in four key areas. The conclusion drives home the points of advice and urges CAEs to engage directly with their stakeholders on those topics and others to explore how they can improve to bring value to their role. A new report offers key insights into what audit committees and management look for in heads of audit.