To be effective, internal auditors are expected to provide assurance and deliver added value to their stakeholders. This is easy to say but much harder to do:
- First, stakeholders and auditors may have different expectations of the added value they want internal audit to provide; and
- Second, internal audit needs to deliver this assurance with limited resources and tight budgets.
In practice, internal audit work should be both effective and cost-effective.
In a recent survey by the PEMPAL Internal Audit Community of Practice (IACOP), 11 countries selected improving the effectiveness of internal audit units in the public sector as a topic of specific interest. The Central Harmonization Unit (CHU) Challenges Working Group of the PEMPAL network have therefore selected this subject as a priority and arranged this meeting for these 11 countries to discuss tailored solutions. Participants will learn from the experiences of CHU representatives from PEMPAL countries and beyond, including public sector Chief Audit Executives, Ministry of Finance high level officials, Court of Account representative, as well as international experts.