Book description
"How can you argue with the core principles of Lean, that you focus on what provides value to your customer and eliminate work that is not necessary (muda)? Internal auditors need to understand not only who their primary customers are, but what is valuable to them - which in most cases is assurance that the risks that matter to the achievement of objectives are properly managed. We need to communicate what they need to know and not what we want to say. This incessant focus on the customer and the efficient production of a valued product should extend to every internal audit team. How else can we ensure that we optimize the use of our limited resources to address the dynamic business and risk environment within which our organizations operate?"
Norman Marks, GRC Thought Leader
Using lean techniques to enhance value add and reduce waste in internal auditing
Lean Auditing is a practical guide to maximising value and efficiency in internal audit through the application of lean techniques. It is an ideal book for anyone interested in understanding what progressive, value adding audit can be like. It is also ideal for anyone wondering whether audit activities can be streamlined or better co-ordinated with other activities.
The book contains practical advise from the author's experience as CAE of AstraZeneca PLC; from his work as a consultant specializing in this field; as well as insights from leading CAEs in the UK, US and elsewhere. In addition, there are important insights from thought leaders such as Richard Chambers (IIA US) and Norman Marks (GRC thought leader) and Chris Baker (Technical Manager of the IIA UK).
Increasing pressure on resources is driving a need for greater efficiency in all areas of business, and Internal Audit is no exception. Lean techniques can help streamline the workflow, but having only recently been applied to IA, lack the guidance available for other techniques. Lean Auditing fills this need by combining expert instruction and actionable advice that helps Internal Auditors:
Benchmark their efficiency against lean ways of working
Understand warning signs of waste and lower added value
Understanding practical ways of working that improve added value and reduce waste
Gain confidence about progressive ways of working in internal audit
Understand how improved ways of working in audit can positively impact the culture of the wider organization
One of the keys to the lean audit is finding out exactly what the stakeholder wants, and eliminating everything else. Scaling back certain operations can delineate audit from advisory, and in the process, dramatically improve crucial outcomes. To this end, Lean Auditing is the key to IA efficiency.
Table of contents
- Foreword
- Introduction
- PART 1 LEAN AND LEAN AUDITING IN OVERVIEW
-
PART 2 LOOKING AT INTERNAL AUDIT PLANNING AND ASSIGNMENT DELIVERY
- 6 Who Are the Customers of Internal Audit?
- 7 What Really Adds Value – And What Doesn’t
- 8 The Importance of Role Clarity in Assurance and the Insights Lean Can Offer
- 9 The Audit Plan: Taking a Value Approach
- 10 Factoring in Risk Assurance in the Audit Plan
- 11 Considering the Allocation of Resources to Optimize Value Add
- 12 Assignments – Types, Scheduling and Resourcing
- 13 Using Assignment Scoping and Planning to Drive Added Value
- 14 Assignment Delivery – Managing What Really Goes On
- 15 Using Communication and Quality Standards to Maximize the Added Value from Assignments
- 16 Assignment Follow-Up and Follow On
- PART 3 LOOKING AT KEY UNDERPINNING CAPABILITIES, PROCESSES AND WAYS OF WORKING
- PART 4 FINAL REFLECTIONS
- Other Recommended Reading
- Appendix – Illustrative Kano Analysis Regarding Internal Audit
- Closing Dedication & Thanks
- Index
- End User License Agreement
Product information
- Title: Lean Auditing: Driving Added Value and Efficiency in Internal Audit
- Author(s):
- Release date: January 2015
- Publisher(s): Wiley
- ISBN: 9781118896884
You might also like
book
Leading the Internal Audit Function
In this book, the author presents lessons learned from her extensive experience as a CAE to …
book
Internal Control of Fixed Assets: A Controller and Auditor's Guide
What's the big deal about fixed assets? If the PCAOB starts to review auditor work papers …
book
Internal Audit Quality
Deliver increased value by embedding quality into internal audit activities Internal Audit Quality: Developing a Quality …
book
Internal Audit Reports Post Sarbanes-Oxley: A Guide to Process-Driven Reporting
Brimming with commonsense advice delivered in a conversational, easy-to-read style, Internal Audit Reports Post Sarbanes-Oxley: A …