The broad and complex impacts of the COVID-19 disruption are clearly different from other forms of disruption organizations have experienced. Leaders from three major retail organizations, at the front lines of supplying essentials such as pharmaceuticals and groceries, discuss the effects COVID-19 has had on the internal audit (IA) function. IA leaders have had to make immediate adjustments in focus, engagement models, and in the deployment of resources—all while continuing to safeguard the business.
Highlighted are examples of critical team responses that have resulted in a larger role for compliance and risk professionals in the business, laying the foundation for a more collaborative partnership in the future.
Topics addressed include:
- considerations for supporting teams and completing audits in a virtual environment
- specific examples of how internal audit departments have adapted in response to pandemic complications
- audit and compliance lessons learned around technology, leadership, and information management that can be applied to a future crisis.