Over time, internal auditors tend to hear about a lot of things that went wrong. Unfortunately, it’s not just our clients who make mistakes — I have witnessed more than a few spectacular internal audit failures, and in too many cases the internal audits went wrong for reasons that easily could have been prevented during engagement planning. Some of the biggest blunders often seem to stem from the same few mistakes. In the hope that we can learn from each other’s mistakes, I have listed below my take on the most common of these missteps.
These are just a few of the mistakes that seem to keep undermining promising internal audits. Your list might be different. What are some of the biggest mistakes you have seen that derailed an internal audit?