The Internal Audit Foundation, The IIA, and AuditBoard Release “COVID-19 and Internal Audit: Preparing for the New Normal in 2020 and Beyond”
The latest Content Series Report and Continuing the Conversation Video, “COVID-19 and Internal Audit: Preparing for the New Normal in 2020 and Beyond,” released by the Internal Audit Foundation, The IIA, and AuditBoard, provides practical direction as to what internal audit functions can do to support their organizations as they work through the impacts of the pandemic — today and in the future.
Findings were drawn from discussions and recommendations gleaned from many sources, including internal audit function leaders and consultants, AuditBoard’s April 9 “Coronavirus and Internal Audit Webinar” attendees, and The IIA’s Audit Executive Center. The report and video cover how COVID-19 is impacting the operation of internal audit departments, the implications for Sarbanes-Oxley compliance, business continuity, the changing risk landscape, where internal audit needs to step up, and what the future holds for internal audit.
The current environment offers internal audit leaders a unique opportunity to extend their value beyond traditional audit activities and help drive the future of their business. Embracing the changes that have occurred and helping manage downside risks are additional roles in which internal audit functions can excel.
