Internal Audit Innovation

Goals

To identify case studies of innovation in internal audit. The research will help to determine what a best in class audit function should look like.

Early Findings

Case Study: Seren Group

  • Seren Group is a company based in the United Kingdom that offers housing services to senior citizens.
  • The company has an internal audit department that is governed by a charter containing a list of creative innovative practices for the internal audit function. These are:
    • Changes in the interactions between internal auditors and the rest of the enterprise and stakeholders.
    • Continuous improvement of the internal audit function by creating new internal audit methods and services.
    • Constant improvement of the skills and knowledge of internal auditors by involving them in networking activities with similar professionals in England and Wales. The Senior Internal Auditor is committed to continuous professional development.
    • Customers are requested to give feedback on the internal audit services and results after the report is done. This is aimed at improving customer satisfaction.
    • Changes in the approach used to ask questions by internal auditors.

Summary of Early Findings Relevant to Goals

  • Our initial hour of research was spent scanning for case studies on innovation in internal audit to ensure that information was publicly available, which it is. One case study was identified and briefly summarized in the early findings section above.
  • We adopted a global focus for our initial research and scanning for data availability.
  • Please select one or more of the options provided in the proposed scoping section below.

Proposed next steps:

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