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Internal Auditors: Mission Unaccomplished?

Companies want the "compliance police" to get more involved with process improvements and enterprise risk assessment, but they may be unprepared to make the change, E&Y research suggests.

December 4, 2008

The roles of the internal audit function, defined loosely, are to make the business better and to keep it out of trouble — but the two don't necessarily get equal time.

In the several years following the passage of the Sarbanes-Oxley Act in 2002, at the typical U.S. public company the pendulum swung far to the keep-out-of-trouble side, with resources heavily allocated to complying with the act's requirements for attestation and testing of internal controls. Read more...

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