PracticeConsultingDeloittes emphasises need to incorporate Turnbull

Deloittes emphasises need to incorporate Turnbull

It may be eight months on, but only 13% of companies have fully integrated Turnbull recommendations on internal auditing, according to a Deloitte & Touche survey.

Analogising the choice between implementing Turnbull and voting for London Mayor, Deloittes auditing technical partner Martyn Jones, said: ‘Vote Turnbull, don’t vote Livingstone, or Norris.’

Jones was speaking on internal audit at Chartered Accountants Hall as part of this year’s lecture series. His speech focused on re-emphasising the need to fully incorporate Turnbull and stop seeing it as a necessary evil.

He also reiterated the goal of altering the views of colleagues and managers who tend to simply paying lip service to the internal audit.

‘We have to ensure that Turnbull isn’t seen as a ballistic fad,’ said Jones.

In order to balance risk and control, Jones said an early warning system, clear allocation of duties and an obvious link between targets and objectives was imperative to sustainability and business improvement.

Light-hearted and speckled with the odd pun, he captured the attention of the more than 200-strong audience of internal auditors from the public and private sectors for over an hour in a bid to drive home the pertinence of Turnbull.

Seemingly obvious tips, such as spicing up the rather turgid vocabulary used in financial matters, appeared to be well received.

‘The next steps to take are not assuming just because procedures are in place, effort can cease in this area. ‘Think about who you are serving, where your time should be spent and that what you are doing is relevant,’ said Jones urging the auditors to step up their pace.

Boom in outsourcing of internal audit predicted

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