Audit the boardroom!

Some time ago I blogged about my fear that Internal Audit can no longer keep up with the speed of developments in the environment of organizations. I am talking mainly about technological developments but also geopolitical and legislative ones. My fear was/is mainly that the profession is not sufficiently engaged in the necessary innovation to add lasting value to organizations as Internal Audit.

That Internal Audit is not the only one struggling with all the developments should come as no surprise. I read in the Financieel Dagblad (dated April 3, 2019) that this also applies to the current generation of top executives. According to a study by the international consulting firm Korn Ferry, the ability to act quickly and enthuse employees in the process is lacking. At least, according to investors and analysts of the major parties. According to these investors and analysts, only a third have the ability to get through technological developments in particular. 83% of investors consider an exceptional CEO crucial to the success of an organization.

Perhaps this, then, is where the internal auditor can add value: by assessing whether the boardroom is ready to lead the organization through the technological advances that threaten the organization, or offer opportunities. An interesting issue. By the way, I'm curious if the boardroom is open to such audits. In any case, here you will find interesting starting points for the frame of reference of the study. Good luck!

Drs. Marc van Heese RO RE CIA

Partner ARC People