Executive Behavior Is Top Indicator of Culture Risk, 68% of Internal Audit Leaders Say
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Tuesday, June 27, 2023
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Few Organizations Issue Formal Reports on Culture: Only 17% of those surveyed produced written standalone reports on overall culture.
Key Points:
- Few Organizations Issue Formal Reports on Culture: Only 17% of those surveyed produced written standalone reports on overall culture.
- Issuing a call to action for internal audit teams to assess culture in a data-based, quantitative manner, the authors highlight critical resources to set and monitor key culture risk indicators, define healthy culture guiding principles, and ensure appropriate issues around culture and culture reporting are being addressed at board, audit committee, and executive meetings.
- A healthy, ethical, and high-performing culture is a sustainable competitive advantage within an organization’s control,” said Richard Chambers, Senior Internal Audit Advisor at AuditBoard.
- Respondents were chief audit executives and internal audit directors in organizations based primarily in North America, representing a diverse group of industries and internal audit department sizes.