IIA president calls for better risk management
The new president of the Institute of Internal Auditors has called on company boards to manage their business risks better in the wake of corporate disasters.
Link: WorldCom: Internal auditors want major overhaul
In particurlar Richard Nelson said recent accounting scandals had shown the need for ‘an effective, high profile internal audit operation to provide [non-executive directors] with the assurance they need’.
He added that internal auditors could add ‘true value to any organisation’.
Making these comments in his inaugural address Nelson said he aimed to accelerate the IIA’s expansion during his presidential year and would ensure that education and training provided by the institute would ‘raise awareness of internal auditing as a vital service to senior executives’.