Why internal audit still falls short
Most internal audit departments worldwide operate at a basic or substandard level due to lack of independence, limited capacity, weak leadership commitment, and poor follow-up, jeopardizing transparency and integrity in public financial management. The article advocates reform through legislative changes, capacity building, adoption of international standards, digitization, and improved collaboration to elevate internal audit into a meaningful, value-adding oversight function.
Most internal audit departments worldwide operate at a basic or substandard level due to lack of independence, limited capacity, weak leadership commitment, and poor follow-up, jeopardizing transparency and integrity in public financial management. The article advocates reform through legislative changes, capacity building, adoption of international standards, digitization, and improved collaboration to elevate internal audit into a meaningful, value-adding oversight function.
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