Part of the continuing series of internal audit best practices, this session will provide insight on the realities of internal audit management roles, and the elements needed to build a strong internal audit department to provide the most value for your company. The world of internal audit has undergone many shifts over the past several years due to the state of the economic and pandemic concerns. However, these impacts must be evaluated in light of concepts outlined in the Internal Audit Standards.

The Institute of Internal Auditors (IIA) has done a tremendous job raising the profile of the auditing profession. As auditors, we strive to abide by the standards and guidelines. But have you ever asked management within your company if they knew such standards existed? Do they truly understand the concepts of risk-based auditing, independence, and obligations to the board or charter requirements? It is surprising how so many of these basic concepts are taken for granted by auditors and that we assume management is aware.

Individuals considering an internal audit management role should understand the challenges as well as benefits that may be presented to them within this role. It is critical that certain elements of the job be well understood by those holding the positions.

This session is designed to step into the reality of the internal audit management role, and discuss some of the concepts that aren’t always openly discussed within organizations--but are important concepts the internal audit manager should ensure they can clarify with management and be prepared to address on the job.