Chapter 2
Where to Begin
Recognize the Need
It does not matter if you are in an audit department, an enterprise risk management group, a compliance department, or a business unit. It does not matter if you are a team of one or work with a team of over 50 individuals. There never seems to be a sufficient amount of time or resources to accomplish all of the department goals that were set at the beginning of the year. Why that happens should not be a mystery to anyone who has worked in a business unit for more than a year. Each year begins with optimism and excitement and the belief that, as a team, we can accomplish more than the previous year because of experience.
The reality is that it is very difficult, if not impossible, to take on more than the previous year, even with an experienced team. Why? Because a high-functioning, successful team, especially an audit department, will be looked to as a resource in subsequent years. As resources, departments that have met or exceeded their goals will be asked to partner on company-wide projects, expand their breath of coverage, or guide and direct other business units on how to be successful. So with all of these potential additional activities, how will an audit team handle its new popularity? Keep in mind that while accepting the invitations to partner is an excellent marketing opportunity for internal audit and a significant morale boost for the audit team, it does not alleviate the existing commitments to the audit committee and ...
