Monday, July 22, 2013

Why Internal Auditors keep telling us that they add value?

Why is it that internal auditors are the most users of the terminology "add value" ? Do you hear other functions in your company use it as often ? Do internal auditors use it to justify their existence to others and/or to convince themselves that they are valuable to their organizations ? And finally do they really add value and how?

The glossary section of the IIA standards defines add value as follows :
"The internal audit activity adds value to the organization ( and its stakeholders) when it provides objective and relevant assurance and contributes to the effectiveness and efficiency of governance,risk management, and control processes." Isn't this what they are supposed to do anyway? Is adding value means doing your job as prescribed by your job description or does it go above and beyond what is expected of you ?

Can you in your own words describe how you add value to your organization using at least one practical example ?

Do you know what is your stakeholders definition of "adding value" ? Did you ever asked them?

I am not trying to offer answers here ,but rather to start a self-dialogue !!

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