How does your Internal Audit department handle assigning resources for continuous improvement initiatives (i.e. giving input on system or tool improvements; building a training program, etc)? We handle this as goal work and team members are assigned to working teams on top of their regular audit work.
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Executive Director, Strategic Sourcing & Site Services in Healthcare and Biotech3 months ago
Our Internal Aduit function is co-located within both our Finance & IT departments. As we are setting up specifications & process mapping for major CI projects, IA is invited to the table early to drive compliance and standardization. Projects greater than $500K in spend are considered in scope for IA involvement.
no title3 months ago
If I'm understanding your question correctly, in our organization the Audit team also has an "advisory" arm and that is where those continuous improvement engagements would come into play. This is where they would engage on those initiatives to provide strategic insight and advice to management.
no title3 months ago
That is helpful to know you have a threshold for IA involvement. We don't have an explicit one but that's a good idea to consider.
Terrell Carothers and Denise Briddell - thank you for your responses. We do those types of advisory engagements, too, but I was actually thinking more about CI efforts within our own department for our processes and not in the broader organization but I see that wouldn't come across very clearly in my question. For example, beginning last year, we modernized our audit universe risk assessment to use a couple tools and some automation. This was done with a working team of a business analyst, data analyst but also auditors but I was wondering how other departments staff those projects.