Blog: ​COVID-19 Demands Audit Committee Effectiveness: 6 Recommendations

In his blog, IIA President and CEO Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession. Here’s an excerpt from his latest post:

The challenges to business and society created by the biggest health crisis in a century have been manifold. Each day brings a new twist in how the COVID-19 pandemic impacts our safety, interactions, business, politics, and security.

Yet, this relentless scourge may offer one significant benefit: It has sharpened our focus on governance and accountability by requiring organizations to take a long, hard look at how they operate, whether they be large or small, complex or simple. This examination — a bit of organizational soul searching, if you will — helps identify waste, hone in on core missions, accelerate adoption of new technologies, and most importantly, better understand how we govern ourselves.

With this in mind, The IIA and the International Federation of Accountants (IFAC) teamed up to produce an important tool for audit committees as the world navigates through these transformational times. Six Recommendations for Audit Committees Operating in the “New Normal” provides important insights and direction to board members for adapting to a post-COVID world.

Read the full InternalAuditor.org blog post from IIA President and CEO Richard Chambers.