What organizations can do to elevate the value of their internal audit function and create a new standard of delivery.
What added value can the Internal Audit (IA) function bring to a company? An effective IA function can not only magnify what the company already knows, but present new findings, offer new perspectives and provide new ways of gleaning such insights.
KPMG International and Forbes recently surveyed more than 400 Chief Financial Officers and Audit Committee Chairs (ACC) regarding the performance, focus, value and future of IA functions at their organizations. The findings call attention to a "value gap" between what ACCs and CFOs identify as priorities and what they are receiving from their IA functions.
Our report also looks at specific actions companies can take to elevate the value of the IA function and create a new standard of delivery.