The role of internal audit is just beginning to evolve; the transformation is in its infancy.
To be seen as a relevant and valuable contributor to the organization, internal audit must
continuously monitor and reassess the risks related to compliance and focus on those
risks as they affect the organization’s strategies and objectives – in other words, help
the organization assume the right risk at the right time. Recognizing and remedying
deficiencies in the mandate, staffing, operations, and value measurement is essential
if internal audit is to take its proper place at the organization’s strategic table.