The Institute of Internal Auditors – Australia
Sinopse: The idea of writing Auditing Risk Culture – A practical guide had its origins during the development of the Institute of Internal Auditors – Australia’s publication Internal Audit Better Practice Guide for Financial Services in Australia which was released in November 2020.
Included in this latter publication was Principle 6: ‘Adopt appropriate methodologies for auditing risk culture’. Given the broad scope that auditing risk culture entails, the IIA-Australia decided that a more comprehensive guide could benefit internal auditing professionals in not only the financial services sector, but across all industries.
The Institute approached Macquarie University’s Professor Elizabeth Sheedy, who had worked on Principle 6 of the Better Practice Guide, to produce an outline for this guide. In addition, risk culture expert Elizabeth Arzadon, from Kiel Advisory Group, and QSuper’s Head of Internal Audit, Regardt Du Preez, were engaged to assist by providing first-hand industry experience.
As Phaedrus observed in 1st-century Rome, ‘Things are not always as they seem; the first appearance deceives many.’ So it is that the culture of an organisation affects behavioural norms, which may help or hinder effective risk management. This is why measuring risk culture is necessary.
