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Identifying and Managing Stakeholder Expectations – the Audit Committee

Increasingly touted as trusted advisor to management and the business, internal audit serves diverse stakeholder groups both internal and external to the organisation. Among its stakeholders is the Audit Committee, to whom internal audit reports directly, as recommended in the 2018 Singapore Code of Corporate Governance.

IIA Singapore invited Nagaraj (Raj) Sivaram, Board Member and Audit Committee Chairman of the Urban Redevelopment Authority, Singapore Institute of Technology and Assisi Hospice to share his experience on what internal auditors should know when it comes to expectations, as well as pick up tips on how to identify and manage these for more effective audit delivery. Over 180 internal audit practitioners from Singapore, Hong Kong, Japan, Taiwan, Thailand attended the webinar, “Identifying and Managing Stakeholder Expectations - the Audit Committee” on 17 September 2020.

Key takeaways are:

  • Know who your stakeholders are and which are the primary groups for your internal audit function.
  • Identify ways of engaging these stakeholders to learn about their needs.
  • Understand how the strategies and objectives of internal audit can be better aligned with concerns of these stakeholders.