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Internal audit a strategic business partner, says Protiviti

Consulting firm Protiviti says boards and executives are increasingly seeing internal audi as a strategic business partner. That conclusion comes from the firm’s latest edition of Internal Auditing Around the World which shares insights from internal audit leaders across the globe.

The organizations profiled in the latest edition, titled Next-gen Internal Audit – Are You Ready? include Accenture, Anixter, Brinks Home Security, Capital One, Country Road, Deutsche Telekom, DriveTime, Fidelity, Jardine, NTT, Occidental Petroleum, Synchrony and Zain Group, among others.

"Becoming a next-generation business requires a new mindset and cultural change. To help the business transform, internal audit needs to look forward, adopt an agile approach and actively seek to shift from being a risk- and change-averse function to being a center for innovation," said Brian Christensen, executive vice president and leader, global internal audit and financial advisory, Protiviti. "This means balancing new internal audit models with the right technology, resources and methodologies, underpinned by governance and infrastructure."

The new edition of Internal Auditing Around the World also investigates how internal audit teams can adopt more agile practices, engage the business earlier in the audit process and become more data-and technology-enabled to provide effective risk management more efficiently and even predictively. A total of 16 organizations were interviewed and their experiences in dealing with these questions are presented as case studies.

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