Assuring success in large business programs

Internal audit’s role in strategic risk management

The delivery of a successful business transformation project requires that all stakeholder expectations be met. Internal audit can help key stakeholders, such as the board, audit committees and senior management, stay up-to-date on:

  • effectiveness of the overall program and processes
  • appropriateness of structures and governance
  • performance against budgets and timelines
  • management of key risks associated with the program
  • organizational readiness

The two questions most commonly asked of internal audit by the board and executives when faced with a large, complex initiative are:

  • Are we doing the right things?
  • Are we doing them in the right way?

Internal audit involvement should naturally be tailored to address these questions and to meet the unique risks of the program.