Making it Personal: Internal Audit Beyond Your Organisation
The month of May is Internal Audit Awareness month. The brainchild of The Institute of Internal Auditors (IIA), this is an annual, international celebration and promotion of, perhaps a lesser known, yet indispensable organisational function which spans an awe-inspiring plethora of career roles and occupations. Since external auditors are frequently cited and portrayed in the universal media (not always for the reasons we would like!), the public do have a perception of the function they fulfil (similarly, not always as accurate as we would like!). On the other hand, Internal Audit has garnered significantly less publicity and exposure, and arguably sits in the shadows as the lesser know sibling, both in terms of function and career. IIA’s heralding of the profession during May is paramount in shining a light on an oft unvalued and underplayed career, and while their website has tonnes of resources to support the organisational crusade, we are going to take a more personal perspective on Internal Audit…
How do you identify?
Outside of work, in the social arena, what do you respond to the inaugural, ‘what do you do for a living?’. If you are a doctor, a lawyer, head of finance or a compliance officer, you might instinctively use your profession or your job role or give a brief but recognisable retort which conveys immediate recognition to any new enquirer. These universally understood job monikers also communicate something of the value that they bring to an organisation, and it is inherent within their well-known terminology, what the protagonists actually do on a day-to-day basis. But Internal Auditor? Your proud response may be met with a blank expression, suspicion, or at the very least a lack of comprehension, followed by an entreaty for more information… and then what do you say? This identity aspect is not just an issue with the casual enquirer, I wonder how much your nearest and dearest, friends and extended family, really know about, and appreciate what your career actually involves? All of which suggests that Internal Audit Awareness Month is a superb opportunity to extend this knowledge, not just in the widest sense, but among your own immediate, local circles. It is an opportunity to celebrate, to inspire and to show off your own role – boost your own self-esteem, and feel the pride in a job that is so crucial to organisational safety and strategy.
First myths, misunderstandings, misperceptions
‘Beavering away in the shadows, finding fault, internal policing, catching people out’.
Just a few of the common misperceptions of the role of Internal Audit, not only unhelpful, inaccurate and cynical, they also present a highly skewed view of a function which is essential to organisational objective-achievement. Think about it: through safeguarding and process improvement, Internal Audit is essential to protection against a huge diversity of risks, fraudulent practices and systems’ inefficiency and ineffectiveness; without this critical function, any organisation will face serious limitation in their growth and commercial or other viability. This is where we bring value, and this is what we should be celebrating.
How do you describe your role?
As an advocate, it’s that penultimate sentence in the previous paragraph that should kick off any explanation of your Internal Audit role. Concentrate on the positive verbs – safeguarding, protection, providing assurance, regulatory compliance, promoting growth and objective-attainment, and then look at what and where you do this: governance, health and safety, brand and reputation, assets and resources, cybersecurity, and so on, the list is almost infinite… Consider also the macro perspective, and how you are contributing to global Sustainable Development Goals. While supporting environmental sustainability and responsible consumption might be the first that come to mind, there are a total of seventeen SDGs and Internal Audit have a part in many more. Your role is essential right across the Environmental, Social, and Governance spectrum. Do you talk about this to your friends and family? Do you acknowledge it to yourself, and feel just a little pride?
Once you have set the scene, you can then delve into the specifics of your job. Internal Auditors work in a vast variety of sectors; you may have an enviable diversity of industry experience, or you may have chosen to go for a deeper specialisation. Not only does this context setting help you describe what you do and how you bring value, it can also be a fantastic advertisement for the profession. Think of the plethora of organisations which employ Internal Auditors: health, education, manufacturing, engineering, professional and financial, and many other service industries.
And finally…
Don’t underestimate the transferability of Internal Audit skills and experiences. Sector and industry knowledge have already been mentioned, but the breadth of communication expertise is often under appreciated. In most instances, the Internal Auditor is not working in the shadows, rather they spend their time enquiring, exploring, discussing and negotiating with cross-discipline teams, as well as expertly communicating through reporting and presenting, complex information in a user-friendly and diplomatic way. From leading people to managing projects and change, to taking a holistic role as trusted advisor, Internal Audit benefits all, internal and external stakeholders alike. How can you convey this in your conversations and online posts during May – and beyond? Start with those closest to you – do they really understand what you do – bite-sized case studies can help you tell your story – and then of course, take your discourse to social media and beyond – its time to celebrate, appreciate and inspire!