Knowledge Alert: Internal Auditing and Risk Management
The IIA’s Audit Executive Center conducted a survey regarding the role of internal auditing in organizationwide risk management efforts. 2 Survey responses unearthed four key themes regarding the state of risk management efforts and the roles of internal auditing in this key activity:
1. Risk management practices and cultures are evolving. 2. Risk management integration efforts also are evolving. 3. Risk management will be a higher priority for internal audit activities in the next 12 months. 4. There appears to be a continued lack of support at the management and board levels in some organizations for risk management.