The Internal Auditor as Project Auditor: A Winning Combination

Posted on Feb 7, 2012

Organizations around the world are losing billions of dollars in wasted project spending that is usually hidden from management and investors. The internal auditor as “project auditor” has a great opportunity to mitigate these losses and add value to their organization’s bottom line. Although some internal auditors may think they do not know or understand the process of managing a project, this couldn’t be further from the truth. The analytical skills displayed by today’s internal auditors can be put to great use in this arena, because audits are best managed as individual projects to be completed successfully and on time. And a key component of transitioning audit staff to become project auditors is for chief audit executives (CAEs) to position themselves and their audit staff as business partners who can provide insight on key projects and strategic initiatives. 

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