Internal Audit Awareness Month

Take the Chartered IIA 30-minute challenge!

May is Internal Audit Awareness Month – an international celebration and an opportunity to shout about the work that you do. With global geopolitical events unfolding faster than ever, affecting every part of every business, internal audit is more important than ever. We have lots to do - and plenty to shout about.

Robust internal audit directly affects operations at every level. Yet too many people, if they think about it at all, view it as a back-office function. It is shocking that some of our largest firms - including utility companies – still do not have an internal audit team.

If every manager, non-executive, consultant, and college teacher understood that the third line directly supports the frontline in everything it does, the internal audit role would be easier, more effective, and (even) more attractive as a career.

This May, the Chartered IIA is challenging every internal auditor in the UK and Ireland to dedicate just 30 minutes to increasing awareness of why all our organisations and their boards need internal audit. If every member could dedicate just half an hour to spreading the word, the cumulative impact will far exceed our individual actions.

And, since a better understanding of internal audit strengthens companies, makes them more resilient, and improves governance, the benefits will extend far beyond the internal audit profession.

So have a think about what you might do - individually or as a team - in just 30 minutes. We’d love to hear about what you plan to do or have done, so do contact ruth.prickett@charterediia.org with a brief explanation, and we’ll publish a list of the most innovative ideas.

In the meantime, here are some ideas to get you started.

 

Simple starts

  1. Develop a one- or two-line internal audit brand message or “elevator pitch” that can be added to your email sign-off or displayed in your offices and on backdrops for video meetings.
  2. If you don’t already have one, create an attractive single-page explanation of the work of internal audit that goes to managers before every audit engagement. Focus on how and why it benefits auditees, rather than process and controls.
  3. Talk to people about your work. Social occasions are a great opportunity to tell people why what you do makes such a difference. Focus on the highlights, the funny or the incredible.
  4. Perhaps create a quiz that promotes interest in more serious issues and ask questions such as: what is your personal risk appetite, how do you make decisions, or how does your brain process information? You could host this for fun, or you could send it to auditees before an engagement to spark interest and develop understanding.
  5. Share success stories actively and widely. Consider setting up an intranet page or regular email highlighting positive internal audit stories, both from within your own business and from the general news.
  6. Highlight an internal auditor or audit success of the month and ask a manager or audit committee member to present it.
  7. Reassess and revise any literature or online resources you provide for auditees, managers, and audit committees. Are these up to date, and could they be more interesting and attractive?

 

Greater ambition

  1. Create a team video about things you’ve done that made a difference to your organisation to share internally or post on social media. Keep it light, positive, and engaging.
  2. Or set up lunchtime learning sessions for people across the organisation to chat about important themes and innovations. If the internal audit team has tried something new, set up a workshop or webinar to explain it – for example, a new use for data analytics or AI, or a fresh approach to training.
  3. Invite senior managers to address the internal audit team and ask them to share what’s keeping them awake at night. Or think about a topic pertinent to the audit committee or board and produce a briefing (see the Chartered IIA’s briefings). Invite the audit committee chair to a lunch to talk to the team about it.
  4. Start an “Ask internal audit” campaign across your organisation, inviting potential auditees and others to ask internal audit’s opinion and suggesting possible questions.
  5. Set up a talent “roadshow” that you can deploy within the wider organisation and on social media platforms, explaining the skills your team needs now and in future and why a career in internal audit is exciting.
  6. Coordinate debates about important issues for the organisation (e.g. tariffs, supply chains, disruption, ESG) and put forward internal auditors to contribute alongside people from the first and second lines. For example, highlight something you learnt at a Chartered IIA event or as part of the Audit & Risk Awards event on social media and in conversations with management. What did you take away? What did you find interesting?
  7. Write to your MP or respond to wider political debates, highlighting the value of internal audit. For example, reference the Chartered IIA’s calls for the Audit Reform Bill to be put back on the Parliamentary agenda or highlight the Chartered IIA’s call for utility companies to have internal audit functions.

 

Gold star

  1. Nominate your team or an individual for the Chartered IIA’s A&R Awards. Simply drafting the nomination highlights their achievements to the managers who must contribute endorsements. Winning and being shortlisted gives more opportunities to promote the quality of your work internally and externally.
  2. Set up a guest auditor programme. Present a session to different groups and functions in your business to explain what it would entail and why it would benefit them, and create a “sales pitch” for the managers of teams you want to become involved. The rewards will be greater support and understanding.
  3. Connect with others in your sector to share ideas and innovations, set up joint learning sessions with other teams, or get involved with Chartered IIA communities or regional networks. If you belong to other professional bodies as well as the Chartered IIA, share your internal audit experiences and ideas with them and promote understanding across professional boundaries.
  4. Establish relationships with local colleges and universities and offer to present sessions on internal audit as a career. This could prove invaluable as these students progress into work as managers or as internal auditors.

 

Further information

About Us
Quick Links
Contact