As internal audit organisations strive to transition from financial controls oversight to advising on a wide range of strategic, business, and compliance risks, it’s imperative that they establish credibility with company leaders by demonstrating their skills and capabilities in these areas. If your internal audit function is not involved in significant company initiatives, you should ask why. Is it because your team lacks the required knowledge or skills to contribute? Or, is it because your internal audit function hasn’t earned a seat at the table?
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