Higher performance by design: A blueprint for change
In today’s risky and complex business landscape, it's more important than ever that all parts of a business agree on what they want and how they're going to get it. Yet many internal audit functions are struggling to align with stakeholder expectations and be seen as valuable. Internal audit’s ability to build the right capabilities and deliver on expectations continues to be challenged.
In our 10th annual State of the internal audit profession study we surveyed more than 1,900 chief audit executives (CAEs), internal audit managers, members of senior management, and board members from around the world. This survey, combined with one-on-one interviews with 125 stakeholders, told us that when given the adequate resources, internal audit can find opportunities to increase its value and its contribution to the business.
Our Canadian insights publication dives deeper into these global findings and summarizes the results of all Canadian survey participants. These responses show that while Canadians see the benefits of the internal audit function, a lot more could be done to improve its overall performance. There are significant gaps between what stakeholders expect from internal audit and what’s being delivered.
Canadian insights specifically covers:
The expectations of stakeholders vs the performance of internal audit in the areas of risk focus, business alignment, stakeholder management and service culture
The importance of aligning and expanding the expectations of internal audit
Recommended actions for Chief Audit Executives, board members and executive management