In an uncertain and challenging economy, organizations are seeking an approach to internal audit that goes beyond reviewing past activities. Instead, they want internal audits that are insightful, forward looking and go beyond preserving value to creating value on a departmental, divisional or organization-wide level. This paper describes the evolving need for internal audit in a changing environment and how internal audit drives value creation. It also highlights the application of critical thinking to internal audit and the strategy that can be applied to take the audit to the next level.
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