Internal audit gets ethical with new guide.

Although many of the issues regarding socially responsible business practice and accounting are handled by external auditors, the bulletin, written by CSR consultant Walter Raven, offers tips and advice to help the internal auditor put practices and processes in place to ensure the company’s values are being adhered to.

‘Without proper management systems, there can be no controls,’ said Raven.

‘If there are no effective controls, the organisation cannot actively state that it is in compliance (with CSR policies).

‘CSR, like any other corporate responsibility, has to be managed and there have to be management systems, otherwise a social audit cannot be conducted and potential risks cannot be assessed.’

Issues and challenges such as transparency, political and economic pressures, regulation and socially responsible investment are covered by the bulletin.

Although Raven states that the precise role that an internal audit plays in the company’s CSR policy will be different for each organisation, the paper provides some basic questions that all internal auditors should ask when looking into this area, and has specific areas of coverage.

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