The inaugural 2020 Audit Committee survey reflects a significant departure from prior surveys and illustrates how Audit Committee wants, needs and expectations of internal audit functions have dramatically evolved in today’s tumultuous business environment.
Deloitte’s global survey report, Internal audit: Soaring through turbulent times, explores what Audit Committees really want, need and expect from their Internal Audit functions.
The report includes the participants input on the critical issues facing their organizations and the role that internal audit should play in addressing them. The profound changes that have upended the world have also broadened the perspectives and spurred new insights from these leaders, which have been captured in this paper.
In order to meet the rising expectations of our evolving world, the following suggestions and areas of interest are laid out in more detail in the report:
To better understand what audit committees want from Internal Audit functions, Deloitte Touche Tohmatsu Limited conducted a survey of more than 60 board members, audit committee chairs, and audit committee members representing more than 140 companies from every region and major industry sector. Our outreach included both Fortune 500 companies and smaller organizations, those with innovative internal audit groups and those with more-traditional functions.