To comply with the new Global Internal Audit Standard. What should be the starting point? Do we begin with the gap assessment and then proceed with the other activities? At my department, we have also started with updating the Audit Manual to reflect the new audit standard requirement.
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VP of Finance4 months ago
This is a good question as I think a lot of people are wondering the same thing. I'm starting with the Charter as the foundational document and will move to the gap assessment.Vice President - Internal Audit and Enterprise Risk Management in Healthcare and Biotech4 months ago
We're starting with the gap assessment, in order to size the level of effort required to comply with each of the principles. We'll then use that information to sequence, plan and execute any work needed to close gaps. We are also sharing the gap analysis with our senior leaders and audit committee, and will provide regular updates on progress.