Blog: When the Wheels Come Off an Internal Audit, the Culprit Is Usually Poor Planning
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:
In my role as president and CEO of The IIA, I meet and converse with internal auditors around the world. It’s gratifying to hear about their successes, and important to learn about their challenges. In this week’s blog post, I want to share with you some of the things I’ve heard when internal audits go bad. My hope is that, by talking about our mistakes, we can correct our course and prevent future problems.
In general, most issues that arise when the wheels come off during internal audits stem from a single root cause: inadequate engagement planning. It can be tempting to cut engagement planning short, especially when we’re still trying to wrap up the last audit. But when we resort to shortcuts, the results can be disastrous. In the words of Benjamin Franklin, “By failing to prepare, you are preparing to fail.”
Here are just a few examples of how things can go south when internal auditors fail to adequately plan.
Read the full InternalAuditor.org blog post from IIA President and CEO Richard Chambers.
