Dear Madras Chapter Members,
Welcome to the IIA Madras home page.
It gives me immense pleasure to write this message as the president of the Madras chapter for year 2018-19. The IIA chapter is a forum to connect, share and inspire our fellow internal auditors with our constantly evolving stories in a manner that matches our accomplishments and impact. We are proud to be a part of a globally engaged organisation offering a high-value proposition both in terms of professional content and globally recognised education. We are proud that what we do matters.
In introspection, four things come to my mind.
Firstly, are we auditing the risks to processes and business units rather than risks to the achievement of enterprise objectives? That is auditing risks that don’t matter to the board and top executives, instead of what matters.
Secondly, are we failing to communicate what matters when it matters? The traditional written audit report issued after a time delay after the issues are identified does not convey what the management and the board need to know, in time for it to be useful and in an actionable form.
Thirdly, have we lost the ability to change direction as risks change? Internal audit needs the agility to assure the management and the board that the audit provides findings that permits them to take decisions in real time.
Fourthly, has our value proposition to the stakeholders metamorphosed in line with the dynamics of the business? Internal audit has to embrace skills like data analytics, information technology, business acumen (knowledge of the business) and the changes in the compliances caused by digital transformation and disruptive technologies to assure the management and the board that the audit perspective is not a tunnel vision of the financial functions alone but a larger view of the business environment and operations.
The IIA Madras chapter has drafted many initiatives to add as much value to their members as possible by organising PDMs, seminars and conferences, keeping in mind the requirements of the internal audit profession in India.
We are extremely fortunate to have an excellent and proactive board of governors whose contribution to the Madras chapter has been immense and effective.
The Board of Governors and all office bearers would like to place on record our gratitude to all of you for making the chapter a shining example for others to emulate.
Some of the initiatives under consideration are the coaching for the CIA exam, hands on workshops on contemporary skills for the internal auditors and the release of booklets and manuals.
We urge you to encourage your colleagues and others who would benefit from the IIA activities and initiatives to enrol as members of the IIA.