Finding True North in a period of rapid transformation
Our annual survey results suggest that external drivers of change are influencing how internal audit should evolve to maintain its relevance.
As today’s companies drive new business strategies forward, internal audit should also be evolving at a similar pace in order to maintain the relevance and value it brings. In this year’s study of more than 1300 chief audit executives (CAEs), internal audit managers, members of senior management and board members, we discuss the concept of True North, a set of ideals used to guide an organization from its current state to where it wants to be. Finding True North requires innovation, self-reflection and the ability to ask “what should we do?” not “what can we do?”
In this time of transformation, CAEs and stakeholders alike have identified the following four areas as top enablers for internal audit to add more value: