Primary navigation:

QFINANCE Quick Links
QFINANCE Topics
QFINANCE Reference
Add the QFINANCE search widget to your website

Home > Auditing Best Practice > Starting a Successful Internal Audit Function to Meet Present and Future Demands

Auditing Best Practice

Starting a Successful Internal Audit Function to Meet Present and Future Demands

by Jeffrey Ridley

Clear and Inspiring Vision

A vision statement is key to the mission of any organization or function. In 1991 Richard Whitely wrote some inspirational words on vision statements:2

  • A good vision leads to competitive advantage.

  • One way to define vision is … a vivid picture of an ambitious, desirable state that is connected to the customer and better in some important way than the current state.

  • How does this vision represent the interests of our customers and values that are important to us?

  • A vision has two vital functions, and they’re more important today than ever before. One is to serve as a source of inspiration. The other is to guide decision making, aligning all the organization’s parts so that they work together.

  • If your vision is not an impetus to excellence, then it has failed.

  • When a company clearly declares what it stands for and its people share this vision, a powerful network is created—people seeking related goals.

  • Constantly communicate your vision for your organization to those who work with you and for you. Don’t let a day go by without talking about it.

This advice has not dated. It can be seen in many vision statements used by organizations today and will be tomorrow. An inspirational vision for internal auditing in an organization can have a significant impact on those who provide and receive the service. It should be aligned with its organization’s vision, creating direction for all its resources, promotion, planning, engagements, and reporting. From the vision should flow the strategic mission of the internal audit role and its business plan, which will set the scene for the resources needed for its achievement. Following the creation of an internal auditing vision statement, all internal auditing staff and senior management should be involved in its development. Seek total organization commitment and board approval for its direction. That direction will set the scene for the services it will provide.

Back to Table of contents

Further reading

Websites:

Back to top

Share this page

  • Facebook
  • Twitter
  • LinkedIn
  • Bookmark and Share