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The Daily

Internal Auditors Urged to Pay More Attention to Risk

Chris Gaetano
Published Date:
Feb 22, 2016

RiskManagementA survey of over 400 corporate CFOs and board members has found that a majority would like their internal auditors to focus much more on identifying and managing risk than they do now according to a report from KPMG. 

When asked what kinds of insights they would like to receive from their internal auditors, 57 percent of those surveyed said they wanted more help with assessing risks and risk management practices. By contrast, only 22 percent reported getting such help. The survey also found that 36 percent of poll respondents want informed perspective on managing risks, something only 5 percent say they currently receive. Only 10 percent were satisfied overall with how well their internal auditors identify and respond to emerging risks. 

https://ssl.gstatic.com/ui/v1/icons/mail/images/cleardot.gif "If risk is a prominent area of concern and effective and efficient audits are of the most importance, surely then the answer to making value real lies somewhere in informing the risk assessment, supporting risk management and providing insights in a way that optimizes the effectiveness and efficiency of how IA as a whole is delivered," said the report.