Setting up an internal audit function

Whether you are setting up a new internal audit function or looking to reshape one this will be of interest.

The opportunity to set up or restructure an internal audit (IA) function is a challenge. A chance to go beyond your comfort zone, hone skills and learn something new. We will look at embracing the situation and the key steps involved, including a case study from a chief audit executive (CAE) who did it three times!!!

Is it for you?

Perhaps you’ve had an EQA, a new audit committee chair has joined or you instinctively know that things need to be different. Restructuring when you are in situ is challenging, relationships have already developed and you will need to be disciplined to ‘be the change you want to see’ to précis Ghandi. It’s your responsibility as CAE to deliver necessary change.

Alternatively there is personal choice. A head hunter approaches you about setting up a new function or taking on a rescue mission. Salary is great, organisation is interesting and you’ve been in your current job for a while…so why are you not popping the champagne? It’s understandable. This is a big project, a serious investment of your energy and reputation; it’s not for everyone. But there’s a difference between self-awareness of your limits and career fear! Take a moment to imagine that feeling of success in a couple of years.

Do you build relationships quickly and easily? Are you excited by the thought of uncertainty? As a generator of ideas, a shaper, will there be someone to ‘do’ the doing or are you able to see tasks through yourself? Eyes open…ready to take it on.

Begin at the Beginning

We all know that the interview process is as much about gauging if you want to work with an organisation…