Internal audit is about supporting and assuring in a value adding manner. Support to management and the overall organization towards achieving its corporate vision. Assurance to the board, management and the entire organization on sufficiency and effectiveness of governance and business management practices.
The Internal Audit function is a support service provider, a cost center, into which an organisation invests and pays for its service. Value for money service is thence expected in return. It is a service from which the client sees “one more thing” in its output – the Audit Report.
It is that “one more question” which digs out that “one more thing”.
It is that “one more question” posed by a different auditor, that leads to a different report, with “one more thing” – value adding recommendations, derived from concrete opinions on real observations.
It is one more bit of skills and expertise, one little more competence that makes one a different auditor, with one more question earning one more thing for the reports.
One more bit of skills makes one a more competent auditor, with one more question, for one more thing into the report.
The different auditor, never settles for less, until one more answer is obtained, which again raises one more question until the root issue is found.
The different auditor will unlikely settle at, and utilise incorrect information with insufficient evidence. This auditor will raise one more question until complete and most appropriate information is obtained, with sufficient, appropriate relevant evidence for one more thing into the report.
It is this one more thing, which digs out the root of the problem which could have been superficially reported by a satisficing auditor. This will only be dug out by a different, inquisitive auditor, with one more question practice to auditing.
It is this one more thing which provides the fundamental value in the report, which when resolved, triggers what might appear an auto resolution of a series of other issues up to and including a symptom which could have been otherwise reported by the satisficing auditor.
Never settle for the first answer, it is likely to be the least correct. Ask one more question to get a little more correct information and closer to the real audit issue. One other more question will get you to the root of the issue with much more correct and substantive information plus strong evidence.
Be inquisitive and make a difference with value adding reports.
From a list of items requested for review, one that is not availed should be followed to receipt. It is likely to be on an area with a serious issue. On information that is haphazardly submitted, organize it and review, it might be purposely done to impair the review.
On inquiries, one more question(s) will enable lie detection and unveil real issues, the one more thing for reporting – the value.
The satisficing auditor is a “yes, yes” auditor who buys whatever is served, by the audit client. The different auditor never settles for first information, inquires for more and more information and details.
The different auditor will seek to know the issue, what caused it, whether audit client management is aware of it and what has been done about it. Then what is the outcome of what management has done, where are they stuck, any support needed, from who, has it been requested for, why has it not been obtained and what is hindering the person to provide this support from providing the needed support. The different auditor will suggest a solution to unlock a support which is not forthcoming.
Once this turn on key is started, a series of other solutions get unlocked and issues get resolved for real and conclusively.
This is an audit practice that provides a thorough, detailed, deep and broad assurance and support for a swift business management, robust governance practices adding value that is expected of the different auditor.
Keep inquisitive, never settle for less, add value expected of you, the different auditor.
Dickson Hyasint Ivor Hyera
Managing Consultant
Konsalt
