A change of focus: internal auditors in Australia get a broader view of risks by linking their risk analysis to an ERM framework.
Internal Auditor › Vol. 62 Nbr. 4, August 2005
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Summary
RISK WATCH
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A change of focus: internal auditors in Australia get a broader view of risks by linking their risk analysis to an ERM framework.
TRADITIONALLY, INTERNAL audit functions have used risk analysis techniques to identify candidate areas for audit coverage. The objective of these techniques is to prioritize areas for review by providing a comparative risk ranking of those functions. Some common risk analysis variables, such as dollar value and changes in key personnel, are now considered part of the enterprise risk management (ERM) framework. As organizations establish their own ERM frame-works, many are expecting their internal audit department to align its risk analysis with their framework to establish a consi...
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