Esteemed guests, internal audit professionals, ladies and gentlemen, good morning! It is indeed an honor to be here with all of you. Let me commend everyone for sustaining the tradition of advancing the internal audit profession. We have been providing a wide array of opportunities to network, gain knowledge, and share best practices in internal controls and audits. As we all know, internal auditors are indispensable in the operation of enterprises. We are likened to the filters in an engine, without which an engine cannot run in top operating condition. Allow me to elaborate on the broad concept of our role in pushing organizations forward. First, it may not be surprising to hear complaints from our auditees as a result of discovering non-compliance, inefficiencies, and mistakes. Well, that is part of the job. Second, as the “eyes and ears” of the Board, our role is to protect the interest, not of specific individuals in an organization, but the organization as a whole. It is therefore understandable that finding errors or violations is incidental to the auditing job. We are advisers, not implementers. Third, internal auditors must be independent. While we work closely with the officers of the organizations, we must be independent of the units or activities we are auditing. Fourth, we are also risk-takers. An internal audit is truly a risky job. When findings are extremely sensitive, our professional or even personal lives could be at risk. What I can say is that we are indeed heroes in our way of protecting the interests of an organization.Hence, we recognize that in performing a detailed evaluation and review of the internal control framework, we perform procedures that are useful to our job. Hence, rather than duplicating these procedures, we place reliance on the work of the internal auditors while recognizing objectivity and competence. The different roles we perform highlight that we are an important element in an organization. We are instrumental in improving management accountability. But I would like to pose important questions. How can internal audit keep pace with the rapidly changing business environment? Is internal audit-ready with the advancement of technology? Ladies and gentlemen, an internal audit is certainly a dynamic profession that must adapt to the ever-changing needs of organizations. Thriving in the hallmark of the internal audit profession involves several challenges. Allow me to share some major challenges. One of these challenges is for us to use critical thinking outside of the box and change of organizational models. Advising the management will now involve more than just giving recommendations. It will rely on timely decision-making, data analysis, and automated systems and risk management impacting corporate decisions (Abeuzeina, 2017). Another factor that needs to be considered is searching for the “right auditor” who is equipped with attributes and critical skills in addition to courage, conflict management, integrity, and communication (Shikati, 2017). Internal auditors must also balance between complying with regulations and recommending operational effectiveness and efficiency (Maritnelli, 2019). Finally, being strategic and proactive also poses a challenge. We must endeavor to offer more strategic and forward-looking solutions rather than dwell on the findings of the status quo. This will enable us to deliver more value-adding services. I would like to stress that aside from understanding very well the areas being audited, we must look behind the numbers to be able to develop value-added recommendations on risk management. To me, risk management is more than calculating possible losses because it demands to analyze how a web of interrelated factors may bring about those losses. Ladies and gentlemen, I believe we will remain steadfast in our commitment to shaping the future of internal audit in the organizations; build awareness and appreciation of the relevance of internal audit, and foster teamwork and camaraderie among internal auditors; I have faith that we will remain to sustain our excellence, integrity, and commitment to the betterment of internal audit and the organizations we serve. Thank you very much. REFERENCES 1.Abuzeina, Sami (2017). Challenges Facing the Future of Internal Auditing. http://www.internalauditor.me/article/challenges-facing-the-future-of-internal-auditing/. 2.Martinelli, M. (2019). Internal Auditing: Trends and Challenges. https://www.cpajournal.com/2019/06/28/internal-auditing-trends-and-challenges/. 3.Shikati, C. (2017). Challenges of Internal Audit. https://medium.com/@cshikati/challenges-of-internal-audit-b0c2006147d7. Assignment Resources:Creating an Outline: Use this video as a guide to creating a good outline.Citation Helper: Use this website to build citations for your outline references. You can enter the information, then copy and paste the results to your outline’s References section.Sample Informative Speech Outline #1 (Links aboveSample Informative Speech Outline #1 (Links above
