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How the Recession Impacts Internal Audit
January 21, 2010
Richard Chambers, president and CEO of The Institute of Internal Auditors speaks to Business Finance editor in chief Jack Sweeney about the growing number of risks facing boards and audit committees during a recession.
The global nature of major
The global nature of major businesses today and the diversity of systems, processes, organizations and measures of performance have resulted in many companies holding excessive levels of working capital. search active directory
xpectations of key
xpectations of key stakeholders are not likely to shrink as much as budgets and staffing have. It is once again time to evaluate our core processes and drive efficiency in the delivery of internal audit services. If we audit smarter, better, faster, and quicker, then we will likely free up resources to address key risks that otherwise will not be addressed.
"I agree with the above
"I agree with the above poster that risk analysis often lacks clear context of the situation and environment of those parameters. I think it takes a leadership team that has very clear focus and vision of their industry to best interpret what the risks really are. This is why I always want my managers, at all levels, to get out into the field a few times a year, at least. To see whats going on at the base level of consumer and sales."
I found this on another forum, and I think it really points out what is happening in this article.
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We are all facing the
We are all facing the recession and all the things that come with it are inevitable. We just need to live these challenges down and get back on our feet once again.