At the 2nd annual UK/Ireland Institute of Internal Auditors conference, held at the Renaissance Chancery Court Hotel, Paul Marshall, MD of Internal Audit Services at US-based Protiviti, told delegates that they faced unprecedented interest in their work.

‘Internal auditors are more than ever being invited to boardroom and senior management meetings, and they’re even hammering down the door, as their profile has changed due to the importance of what they deliver,’ he said

‘As shareholders and external auditors require more information and increasing rigour is being added to company reporting as a result of Sarbanes-Oxley amongst other things, internal auditors are in greater demand at decision-making levels,’ Marshall argued.

Last week’s conference saw 300 senior figures from the internal audit profession discussing key issues.

‘Regulatory reform and a changing business environment underscore the growing importance of effective governance and risk management and control,’ Marshall added.

‘Sarbanes Oxley has had a positive impact on the internal audit role, as it has put back key disciplines into the business,’ he said.

Internal audits can be uncomfortable, Simon D’ Arcy, associate director of Audit Services at Portman Building Services, said.

‘For those who have to undergo the internal audit, it’s a bit like taking cod liver oil – you know its good for you, but you would rather not take it,’ he said.

HM Revenue and Customs head of internal audit Melvyn Neate said that internal audit reports should be restricted to no longer than 10 pages.

‘Communication is key. The internal auditor has no executive authority so can only generate improvement by persuading those with executive authority,’ Neate said.