Auditing Go-to-Market Activities: A New Frontier for Internal Audit
This article from the Internal Audit Collective advocates for internal audit teams to expand their scope to include Go-to-Market (GTM) activities, such as sales, marketing, and customer experience. It highlights the significant value internal audit can provide by offering independent assurance and advice in these critical revenue-generating areas, which are often overlooked in traditional audit plans. The piece offers practical guidance on how to identify opportunities, gain buy-in from leadership, and deliver impactful advisory projects.
The Untapped Potential of Auditing Go-to-Market Activities
Internal Audit (IA) teams traditionally focus on areas like cybersecurity, fraud, controls, and compliance. However, this article argues that a significant opportunity for IA to demonstrate greater value and relevance lies in auditing Go-to-Market (GTM) activities. These include sales, marketing, customer experience, and partnerships – the very functions that drive top-line revenue and market share. By engaging with GTM, IA can move beyond its traditional image and provide forward-looking insights that directly impact business success, thereby enhancing its reputation and strategic importance within the organization.
Strategies for Initiating GTM Audits and Gaining Buy-in
The article provides actionable strategies for internal auditors looking to venture into GTM audits. Key entry points include leveraging existing Enterprise Risk Management (ERM) frameworks, responding to significant business reorganizations, engaging with new leadership, or reviewing new product rollouts. To gain buy-in, IA professionals must first understand the business problems from the perspective of GTM leaders, expanding conversations beyond traditional stakeholders. Leading with questions that address GTM initiatives, concerns, and metrics can open doors, and starting with advisory engagements rather than traditional audits can set a more collaborative and constructive tone.
Delivering Value and Building Credibility in GTM Engagements
To ensure success and build credibility, IA teams should focus on delivering tangible value. This involves scoping projects carefully to avoid overextension and focusing on "bite-sized" opportunities where value can be clearly demonstrated. Leveraging data analytics skills, which are often strong within IA, can be a powerful way to identify bottlenecks and provide actionable insights, such as analyzing sales cycle times. Crucially, reporting should be concise, relevant, and directly address the "why should I care?" question for GTM leaders, avoiding nitpicking and focusing on impactful recommendations. By embracing GTM audits, internal audit can shift from being perceived as a cost center to a strategic partner, providing critical insight and foresight that aligns with the organization's core business objectives.
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