Addressing the Unique Challenges of Public Sector Internal Audit
Public sector internal audit functions operate in highly complex environments with demands from many stakeholders. Audit committees fulfill a critical role that must be established within the unique context of public sector governance structures. Lines of defense may have engineered redundancies within first and second lines, and often multiple oversight functions in the third line. This requires internal audit to respond with useful communication and assessments on these oversight complexities and how they will impact the internal audit plan. Size, mandate, mode of program delivery and stakeholder expectations must all be taken into account in order to design critical internal audit strategies to best serve public needs.
The presentation will draw on key themes and lessons from the international public sector, whose range of highly diverse mandates and complex environments provide a unique opportunity to examine challenges and opportunities for internal audit. The presentation will describe best practices in the international sector, how needs from a diverse range of stakeholders might best be considered, and charts what is required to enhance internal audit value.