July 2010

July 26, 2010

Beyond Bean Counting

The recent white paper I co-authored on the attributes of highly s​uccessful chief​ audit executives identified seven traits that are frequently observed in those who are the most effective leaders of internal audit organizations. One of the traits we discussed was “superior business acumen.” Based on questions I have received in the wake of presentations on the topic, I thought it might be useful to explore this topic further.

One of the complaints I hear from management far too often is that “internal auditors don’t understand the business.” As we have shifted our emphasis away from an exclusive focus on financial controls over the past two years, I am hearing the complaint more frequently.…