Where is internal audit world-class?
A conversation I just had with Michael Corcoran left me wondering which companies have now or in the past had what one might consider “world-class” internal audit departments?
My personal view is that the CAE is the last person to say his or her internal audit department should be considered world-class.
Instead, that should only be awarded by members of the audit committee or top executives (although I am not sure I would give as much credence to the opinion of a CFO who wants IA to focus on financial and compliance risks).
I would allow members of the audit team to make the award based on what they hear from senior operational executives.
As a former CAE, I am going to hold to my word and not name any of my prior teams. If they want, they can speak for themselves.
So, please use the comments to identify the IA departments you think are world-class and why.