Doing More with Less

• Neil Baker

In the current economic crisis, how can internal auditors deliver value and assurance with fewer resources?
Geoffrey Storms is philosophical about the impact of the economic downturn on his internal audit function. His current employer recruited him four years ago to build an audit function from scratch. His team has been working hard to educate management and the board about what internal audit does, and why it is important. He’s been making real progress. So how does he feel now that his budget is being cut? “If I was a newly minted auditor, I would probably be angry,” he says. “But I’ve been in the profession for a long time, and I’ve experienced this kind of downsizing in other organisations. If I know in advance that I’m going to be somewhat resource constrained, then I can deal with it.”

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