Blog: Why Social Accountability Must Be on Internal Audit’s Radar

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:

Two significant developments in business took place at the end of August that could have profound and long-lasting impacts on how organizations operate. Internal auditors should take note.

First, the Business Roundtable, an association of leading U.S. CEOs, announced a fundamental change to its Statement on the Purpose of a Corporation. The statement, which is updated periodically, is the de facto marching orders for doing business in America and, for the past 20 years, has been pretty basic: Serve the shareholder.

The second development relates to lawsuits stemming from the ongoing opioid epidemic in the United States. Two major pharmaceutical companies face costly judgments and settlements for their role in the crisis.

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