Seeking Value through Internal Audit, a survey of over 400 chief financial officers and audit chairs by KPMG and Forbes, looks at how internal audit can add value and finds a gap between companies’ expectations and what they receive from their audit teams.
How can a company’s internal audit function add value? Seeking Value through Internal Audit, a joint survey of over 400 chief financial officers and audit committee chairs carried out by KPMG and Forbes, seeks to answer this question and examines how companies can improve their audit functions by adopting an integrated and standardized IA model.
This survey uncovers a sizeable gap between what audit committee chairs and chief financial offers view as priorities and what their IA functions deliver. To provide value to stakeholders, IA departments need to focus on delivering informed perspectives on risk, which oftentimes will mean collaborating with other departments such as compliance and technology to identify emerging risks.