Leading the Internal Audit Function. Issue 2 (1st February 2016) - Fountain, Lynn
Abstract: In her book Leading the Internal Audit Function, Lynn Fountain presents lessons learned from her extensive experience as an internal auditor, internal audit manager, and CAE to help internal auditors understand the challenges, issues and potential alternative solutions when executing their role. The book identifies more than 50 challenges for auditors and discusses potential alternative actions the auditor can take when they experience a similar challenge. The book covers concepts on how to: Build a value-oriented function that abides by the Standards and support the objectives and goals of the organization Execute the many aspects of the internal audit, including assurance and consulting work Build a risk-based audit process Develop and sustain the internal audit team Develop and manage relationships with management and the audit committee Manage internal audits role in corporate governance, compliance and fraud Leading the Internal Audit Function includes real-life examples, scenarios, and lessons learned from internal auditors and CAEs to emphasize the importance of managing all aspects of the role. The author summarizes her many lessons learned into ten "commandments" for both CAEs and internal auditors. By following the guidelines in this book, you should be well-equipped to gain management support, perform effective and ethical audits and uphold the IIA Standards .