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By Pierre-François Wéry, Governance, Risk and Controls Leader and Alexandre Lambin, Director, PwC Luxembourg
In recent years, the role of internal audit functions has increased significantly following a number of major corporate debacles, both before and after the financial crisis, which have highlighted the need for a better, more comprehensive view of the internal and external risks faced by organisations. As a result, greater focus has been placed on internal audit functions and their ability to mitigate risk, be it operational, regulatory, financial or strategic. This has led to a shift in the way organisations perceive their internal audit functions, in particular their role in mitigating risks and their ability to provide valuable information to those charged...
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