Creating a Culture of Innovation with Value-Based Internal Audit
On 8 August 2024, IIA Singapore hosted a highly engaging webinar titled "Creating a Culture of Innovation with Value-Based Internal Audit", led by Daniel Lebel, President of CIA International Inc, which attracted over 220 participants.
In his presentation, Daniel highlighted the growing need for internal audit functions to move beyond traditional, risk-based approaches. He emphasised how the rapid pace of risks in today's business environment demands a shift towards value-based internal auditing. It was underscored that the risk of inaction now outweighs the risk of innovation, making it crucial for internal auditors to demonstrate how their work contributes to the organisation’s growth and success.
The presentation provided a clear vision of what a value-based internal audit function could entail, discussing various strategies to align internal audit activities with key corporate value drivers and identifying opportunities for innovation beyond the conventional scope. Attendees were also introduced to practical tools designed to help internal auditors define, measure, and communicate their value proposition more effectively to stakeholders.
The session was met with positive engagement, evident from the numerous questions posed by participants throughout the webinar. It highlighted the importance of adopting innovative practices to ensure that internal audit remains a vital and value-adding function in today’s fast-paced business landscape.
