At companies where internal audit and risk processes are maturing, they are now honing their operations to become more efficient and effective.
It all starts with strong, open, trusting relationships that enable internal auditors to act less like cops and more like business advisers, John Barresi, vice president of internal audit and financial controls at jewelry maker Tiffany & Co, said last month at the Compliance Week 2011 annual conference. “We need open lines of communication to understand what’s going on in the business,” he said. “We don’t penalize the business when we find issues. An audit finding is not a ‘gotcha’ event. We’re trying to find improvements to processes.”
