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The Evolving Role of Internal Audit

Jaclyn Jaeger | July 24, 2012

A confluence of increased regulation, intense focus on corruption, and heightened scrutiny of risk management is changing the role of the internal auditor.

From evaluating and mitigating fraud and corruption risks, to improving IT and business operations, the internal audit function must evolve to meet the expanding needs of management and other stakeholders—so said industry leaders during a panel discussion at the Institute of Internal Auditors' annual conference in Boston earlier this month.

“As internal auditors, we have a great challenge to push executive management and the board to respond to those changes,” said Mark Carawan, chief audit executive for Citigroup.

Linda Zecher, president and chief executive officer of publishing company Houghton Mifflin Harcourt, agreed that internal audit must play a role in guiding senior management to heed the...

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