Global consulting firm Protiviti has released the 2015-edition of its annual ‘Internal Auditing around the World’ publication. The report provides insight in the evolution of the internal audit profession through the eyes of ten companies from around the globe as a means to providing executives and internal audit professionals with a deeper understanding of the business function.
With more than 3,700 professionals across 70 offices in over 20 countries, Protiviti is one of the larger consultancies of the globe. The firm, founded in 2002, supports clients with a broad range of management consultancy, IT consulting and financial advisory services. Protiviti was recently named a ‘Best Company to Work For’ by Fortune (Fortune 100 ranking) and a top 15 'Best Firm to Work For' by Consulting Magazine.
One of Protiviti’s key service areas is internal audit*, a field within which it has over the past two decades built a strong track record, both from a thought leadership perspective as well as in terms of delivery. As part of its internal audit research agenda, the business advisory releases several annual studies, including its ‘Internal Audit Capabilities and Needs Survey’, ‘IT Audit Benchmarking Survey’, ‘Sarbanes-Oxley Compliance Survey’ and last but not least the ‘Internal Auditing around the World’ series.
Internal Auditing around the World
On Monday Protiviti released the 11th edition of its ‘Internal Auditing around the World’ report, a publication that explores the changing internal audit landscape, identifying the key macro-economic challenges and business trends and the impact they have on the function. “The role of the internal auditor has shifted dramatically during the last several years, and it’s important to recognize these changes and plan accordingly,” said Brian Christensen, Executive Vice President at Protiviti. In this year’s edition, special attention is given to the differences between expectations of chief audit executives (CAEs) and internal audit stakeholders, and consequently the activities that both parties can do to converge their beliefs.
Contrary to typical consulting though leadership, which typically presents key findings from the eyes of the researchers, Protiviti’s ‘Internal Auditing around the World’ publication places client companies at the heart of the research, profiling ten global companies from a variety of industries and their challenges as well as approach to best practice internal audit management. Christensen explains: “We share the perspectives of ten companies’ internal audit functions on the delicate balancing act of becoming a more strategic partner to the business while not compromising their independence and objectivity.”
* Internal audit is defined as an independent, objective assurance and consulting activity designed to add value and improve an organisation’s operations.