Recent research by the Institute of Internal Auditors Canada aims to dispel some of the myths about internal audit and provide government executives, audit committees and chief audit executives with strategies to unlock the power of internal audit and to realize sustained value for public organizations and taxpayers.
The research demonstrates that the value of internal audit to senior executives is like a hidden gem – not always realized for the asset that it is.
The research, which will be released in the Fall of 2014 at the IIA Canada’s national conference in Ottawa, maintains that there are three separate, but overlapping value propositions for the function in a public sector context:
- Internal audit as a protector
- Internal audit as an educator
- Internal audit as a trusted advisor