{"id":9611,"date":"2021-03-16T21:22:16","date_gmt":"2021-03-16T19:22:16","guid":{"rendered":"https:\/2021-north-american-pulse-of-internal-audit-many-sides-of-crisis\/"},"modified":"2021-03-16T21:22:16","modified_gmt":"2021-03-16T19:22:16","slug":"2021-north-american-pulse-of-internal-audit-many-sides-of-crisis","status":"publish","type":"post","link":"https:\/\/vaa.lt\/en\/2021-north-american-pulse-of-internal-audit-many-sides-of-crisis\/","title":{"rendered":"2021 North American Pulse of Internal Audit: Many Sides of Crisis"},"content":{"rendered":"

Annual Survey Reveals COVID-19\u2019s Impact on Internal Audit<\/em><\/p>\n

\"2021LAKE MARY, Fla. (March 16, 2021) \u2014 COVID-19 continues to pose significant health and economic challenges despite new hopes for widespread vaccinations. The pandemic\u2019s effect on organizations and internal audit have been varied. The 2021 North American Pulse of Internal Audit: Many Sides of Crisis<\/em><\/strong> shows this disparity in the opportunities the pandemic produced, as well in the costs it extracted. The pandemic\u2019s effects on internal audit were noted across a broad spectrum of reliable Pulse survey metrics, including internal audit budgets, staffing, risk assessments, and audit plans.<\/p>\n

While the pandemic\u2019s impacts varied by industry, Pulse<\/em> survey results consistently show the effects on internal audit were less severe than for the organization overall. Among the most dramatic was health care and social assistance, where 8 in 10 (80%) respondents from such organizations rated the pandemic\u2019s impact as \u201cextensive\u201d for the overall organization, yet fewer than 4 in 10 (37%) rated it as such for the internal audit function. Fewer than 2 in 10 (18%) respondents from financial and insurance organizations rated COVID-19\u2019s impact as minimal for the overall organization (18%), yet more than twice as many (41%) rated it as minimal for the internal audit function.<\/p>\n

\u201cThe pandemic created an open audition for internal audit to showcase its value, particularly in response to the crisis management and business continuity risks at the onset of the pandemic,\u201d according to the report. \u201cIndeed, responses from CAEs who reported staffing increases support that, for some, pandemic responses expanded the profession\u2019s scope of work. In aggregate, the pandemic\u2019s impacts were less than initially anticipated by internal audit leaders.\u201d<\/p>\n

The IIA\u2019s Audit Executive Center (AEC) has gathered insight from leaders in the profession through the annual Pulse<\/em> of Internal Audit survey since 2009. Each survey collects information and perceptions from internal audit leadership, primarily chief audit executives (CAEs) and directors\/senior managers of internal audit across the public, private, and nonprofit sectors.<\/p>\n

Among notable findings:<\/p>\n