Internal Audit's Involvement in Enterprise-Wide Risk Management

16 Pages Posted: 9 Mar 2021

See all articles by Sunnie Ba

Sunnie Ba

Macquarie Business School

Nonna Martinov-Bennie

Macquarie University - Faculty of Business and Economics; Macquarie University, Macquarie Business School

Dominic Canestrari-Soh

Macquarie University; Macquarie University, Macquarie Business School

Date Written: December 2020

Abstract

Drawing on data from a survey of 95 Australian Chief Audit Executives (CAEs) across a range of sectors, industries and size of organisations this report examines:

(i) the IAF’s involvement in assurance, consulting and management roles in ERM in Australia as well as expectations of how involvement in these roles might develop in future; and

(ii) perceptions of the current effectiveness of the IAF’s involvement in ERM.
The findings indicate diversity of practices including evidence of IAFs engaging in ERM-related management-type roles potentially leading to impairment of their independence and objectivity.

Overall, effectiveness of IAFs’ ERM-related roles was generally perceived to be limited.

Keywords: internal audit, risk management

JEL Classification: G34, M42

Suggested Citation

Ba, Sunnie and Martinov-Bennie, Nonna and Canestrari-Soh, Dominic, Internal Audit's Involvement in Enterprise-Wide Risk Management (December 2020). Available at SSRN: https://ssrn.com/abstract=3799024 or http://dx.doi.org/10.2139/ssrn.3799024

Sunnie Ba

Macquarie Business School ( email )

North Ryde
Sydney, New South Wales 2109
Australia

Nonna Martinov-Bennie

Macquarie University - Faculty of Business and Economics ( email )

Sydney, New South Wales 2109
Australia

Macquarie University, Macquarie Business School ( email )

New South Wales 2109
Australia

Dominic Canestrari-Soh (Contact Author)

Macquarie University ( email )

North Ryde
Sydney, New South Wales 2109
Australia

HOME PAGE: http://www.businessandeconomics.mq.edu.au/contact_the_faculty/all_fbe_staff/dominic_soh

Macquarie University, Macquarie Business School ( email )

New South Wales 2109
Australia

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