People in Internal Audit and Assurance roles are a critical component
The audit discipline provides a foundation to provide assurance and consulting to management, the board and other stakeholders that the organization is achieving objectives, addressing uncertainty and acting with integrity.
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
The role of Internal Audit in GRC is more than just assurance.
Other GRC disciplines play a role in Internal Audit and Assurance.
It is essential that people who are not specifically charged with internal audit also understand what their colleagues who work in internal audit actually need.
This includes knowledge about: