Addressing the gap.

Author:Millage, Anne

CAEs are increasingly [being] judged and valued for their ability to be more forward looking," says author Arthur Piper in this month's cover story, "The Winds of Change" (see page 28). "This is forcing auditors to think, feel, and adapt differently to the emerging risk landscape." But are they up to the task? Can internal auditors "mind the gap" between what they currently deliver and stakeholders' expectations of them?

The IIA's new global chairman of the board, Anton van Wyk, cautions internal auditors that to be successful they must be more engaged, better prepared, and more informed when addressing the needs and interests of their stakeholders (see "Mind the Gap," page 40). The issue has become so critical that van Wyk has made "Mind the Gap" his theme and focus during his year as chairman.

The latest ILA Global Pulse of the Profession survey says "recognizing the critical and emerging risks facing an organization is essential to [internal audit's] adviser relationship with stakeholders." The report offers five strategies to help internal auditors achieve this goal:

* Improve alignment with expectations of key stakeholders.

* Assume a leadership role in coordinating the second and third lines of defense.

* Enhance internal audit's...

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