In a New Era of Challenges and Opportunities – How is Internal Audit Measuring Up?

THE GLOBAL INTERNAL AUDIT PROFESSION:NAVIGATING THE CURRENT CRISIS AND OUTLOOK FOR THE FUTUREAPRIL 12, 2010 – ABU DHABI, UAERICHARD CHAMBERS – GLOBAL PRESIDENT AND CEOTHE INSTITUTE OF INTERNAL AUDITORSTOPICS• A decade in retrospect• Impact of the current economic crisis• 5 global challenges for 2010• Beyond the current crisis: what is the long-term outlook for internal auditing• Final thoughtsFIVE NOTEWORTHY ACHIEVEMENTS FROM THE PAST DECADE1. Helping our organizations navigate the demands of new legislation and regulations.2. Enhancing our proficiency in enterprise risk management.3. Becoming a respected source of talent for our organizations.4. Diversifying our focus and demonstrating our value in the face of a global economic crisis.5. Upgrading our global standards and emphasizing quality assurance.ADAPTING TO THE “NEW DEFINITION” IN A DECADE OF DYNAMIC CHANGE20101999Enhanced proficiency in INTERNAL AUDITING REDEFINED Controls assessing controls were Internal auditing is an independent, byproduct of global focus on objective assurance and consulting financial controlsactivity designed to add value and Internal audit’s proficiency in improve an organization's assessing risks has Riskoperations. It helps an organization increased dramaticallyaccomplish its objectives by bringing a systematic, disciplined approach to Internal audit’s role in evaluate and improve the corporate governance isGovernanceeffectiveness of risk ...