Chief Audit Executives and internal auditors have an opportunity to add tremendous value to their organizations by taking a proactive approach to risk.

This article by Eric Hespenheide, global leader for internal audit services, Deloitte & Touche LLP, Sandy Pundmann, partner, Deloitte & Touche LLP, and Michael Corcoran, partner, Deloitte & Touche LLP, explains how companies need internal audit's expertise to attain transparency and to improve their ability to execute against their business plans and governance responsibilities. Risk Intelligence -- an integrated, proactive approach to risk management -- gives internal auditors the means to seize the opportunity and to apply their expertise to risk management.

This cover story article was featured in the July/August 2007 issue of Internal Auditing magazine.