August 2011

August 18, 2011

Beyond Cost Savings: Defining the Big-impact Audit

Whether it’s in internal auditing or in life in general, we all aspire to make a difference. We want that feeling of accomplishment that comes with knowing we have changed the world, if even in a sm​all way. But internal auditing is especially rewarding when we can make a big impact — when we bring about major changes that improve operations and cause senior management and the board to sit up and take notice.

So what’s a big impact in internal auditing? Obviously, “big impact” often equates to “big dollars.” Any auditor would be proud of a report showing that a contractor had overcharged his or her organization by tens of millions of dollars — or, better yet, that a full $300 million could be saved merely by delaying a proposed expansion initiative.…