Three years ago, I moved from being a chief audit executive to a role that centered on broader continuous improvement responsibilities. While I still was focused on internal audit, my priority was to deliver change initiatives across a range of sub-teams.

I gained valuable experience that was completely different to both the operational and strategic side of internal audit. 

Recently, I was asked to again take on a CAE role, though only temporarily. I jumped at the chance. I had missed directly leading an internal audit team, but more importantly, it was a fantastic opportunity to put continuous improvement initiatives into practice, direct with stakeholders. 

Three months in, I’ve reflected on how it has gone, and how I’ve approached things differently. Here are five key takeaways:

Being a CAE is hard!

Very simply, there’s always more to do than time available! From building relationships with management and the audit committee, learning more about the organization and gaining the trust and respect of stakeholders, to predicting future risks, and ensuring the audit team is working effectively and delivering good work that is adding value.    

But, honestly, who would want a role where there’s nothing to work on? And making even small changes over time adds up in big ways. The CAE role can be challenging – there are so many areas to improve – but you’re never done trying to be better.

A CAE’s success is ultimately determined by the entire internal audit team.

No matter how well a CAE improves on their own, the internal audit team overall represents your reputation and the internal audit “brand” day in, day out. Relationships, trust, respect and the perception of internal audit’s value can be advanced over time, but those same attributes also can also be lost very quickly if there’s even a small slip.

This is why it’s important to meet regularly as a team to discuss work, relationships, obstacles, emerging problems and other existing and potential issues. It helps to ensure the team is pulling together in the same direction and that there are ample opportunities to align intended behaviors and outcomes of the internal audit function. Most importantly, problems can be spotted early, and then dealt with before they become more serious .

At the same time, don’t be afraid to delegate where it makes sense. Allow trusted team members to take responsibility, build relationships that benefit all, and progress strategic internal audit initiatives. Don’t be an obstacle to the team; be an enabler.

Visualize the entire programme of audit work.

Stepping back into a CAE role, this was a must for me. The ability to visualize the entire programme of audit work, in real time, in order to monitor and manage progress.

That may sound like a fairly rudimentary and operational suggestion, perhaps typically delegated to other team members to manage and monitor. But as a CAE, it’s critical to have an immediate view of work completed, work in progress, and work coming up. Visualizing the entire internal audit programme allows a CAE to more effectively oversee key audit outcomes, any blockages or delays, and upcoming work to ensure it fits with the risk profile of the organization. It also allows the CAE to be agile, to adapt where necessary, and to prioritize and reprioritize accordingly.

What’s more, it helps in spotting emerging issues and themes and to better anticipate what the board and audit committee may want – or need – to know.

Changing internal audit processes is often blocked by our own mindset.

This one was a really interesting reflection for me. My continuous improvement role had focused on key change initiatives, such as embracing greater agility in our internal audit processes and more effectively using technology to communicate results. But theory is one thing. Stepping back into a CAE role required putting theory into practice.

Would stakeholders object to the change? Would they be nervous about moving away from established processes?

The short answer: No. Changes that I proposed, along with the rationale for the change, were welcomed by the organization and stakeholders.

• Change the way we presented the previously annual audit plan? Absolutely fine.
• Overhaul the way internal audit actions are followed up and reported? Completely supportive.
• Introduce new technology and access to senior management and the audit committee? Appreciated and adopted. 

Returning to a CAE role with more confidence, it hit home for me: For most things you want to change or enhance from an internal audit perspective, you usually just have to ask.

Stakeholders are unlikely to proactively suggest internal audit improvements (and, if they do, it may be too late). As a CAE, don’t settle for a mindset of “my organization would never go for this” or ‘‘that wouldn’t be accepted here.”   

It all comes back to enhancing the organization.

My time away from the operational side of internal audit really brought back into focus the importance of a CAE needing to constantly focus on the bigger picture.

Yes, internal audit needs to follow certain methodologies, conform with the Global Internal Audit Standards, and identify findings and agreed-upon actions. But importantly, it must never lose sight that processes are just a means to an end. Ultimately, the bigger-picture focus should be on helping the overall organization succeed. The updated Standards, and specifically the purpose of internal audit, provide helpful direction here.  

During each internal audit engagement, step back and reflect on how you are specifically enhancing the organization’s:

• successful achievement of its objectives;
• governance, risk management and control processes;
• decision-making and oversight;
• reputation and credibility with stakeholders; and
• ability to serve the public interest.

Focus on your team’s ability and willingness to address each of those goals throughout an internal audit. And hold yourself accountable for how each piece of internal audit’s work demonstrates value.