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Lean Auditing: Driving Added Value and Efficiency in Internal Audit by James C. Paterson

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19 Leading the Audit Function

I hope it is clear from all of the foregoing chapters that a progressive internal audit function that is intent on delivering value and eliminating waste cannot operate quietly on the sidelines. It must take up a key role in any organization focusing on key value areas and making timely, insightful and impactful recommendations that can positively drive the effective management of the organization across a broad range of areas. To take up this value adding role requires excellent leadership, combined with well-trained staff and appropriate ways of working that are capable of delivering added value on a day-to-day basis.

This chapter addresses the leadership qualities necessary in a CAE to deliver a progressive, lean audit function. The next chapter then looks at team capability, development and ways of working to support this.

COMMON PRACTICES AND IIA STANDARDS OF NOTE

As mentioned at the outset of this book, a CAE is expected to lead an audit function in order to add value to senior managers and the board. He (and when I say “he”, I mean “he” or “she”) will normally lead the audit planning process and oversee the delivery of the plan (for quality and productivity). They will oversee the delivery of assignments (directly or through their management structure), managing any sensitive issues, and presenting the results of audit work to senior managers and the board.

A number of CAEs provide overall opinions on the state of risk management and control ...

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