White Paper - Collaborative Reporting

Whitepaper

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Author

Bruce Turner AM
CRMA, CGAP, CISA, CFE, PFIIA, FFin, FFA, FIPA, FIML, MAICD, JP

Date

2023

Topics Explored

Internal Audit, Internal Audit Management, Assurance and Integrated Assurance

Format

White Paper

Extract/Description

There are clear benefits to be gained where the audit, risk and compliance specialists actively work together to interpret and report on the patterns emerging in their collective work.
Greater collaboration and better interpretation of patterns is a modern art that will help the audit and risk committee and the chief executive to protect the bottom line and achieve the business objectives (private sector entities) or statutory objectives (public sector entities).

Key Points

1. The Chief Audit Executive is required to coordinate activities with other assurance providers.
2. Individually, audit, risk and compliance specialists contribute value to the entity by providing vital strategic safeguards.
3. They are expected to apply modern techniques to produce insightful information that helps their audit and risk committee fulfil its role. But this cannot be done by applying a ‘siloed’ approach.