Insight

The internal audit function in light of COVID-19

A guide for risk and internal audit functions to align and rebalance risks in response to the current business environment

Deon Minnaar

Deon Minnaar

Partner, Internal Audit & Enterprise Risk, KPMG US

+1 212-872-5634

Michael A. Smith

Michael A. Smith

Partner, Internal Audit & Enterprise Risk, KPMG US

+1 214-840-6019

Business leaders are facing perhaps their most difficult challenges in generations and are seeking a way forward amidst uncertainty and constant change. This has implications for the role that internal audit (IA) provides to the organization.

This piece consolidates insights from IA leaders across the country regarding communication with the Audit Committee, relationships with stakeholders, changes to the audit plan and lessons learned, as well as risk assessment considerations.

We encourage you to immediately act on these insights from our colleagues across the profession, and continue to revisit and rethink them as the risk landscape evolves.