The critical moment we are experiencing, with changes brought about in the lives of many people, requires increased responsibility on the part of internal auditors and accounting professionals, who have as part of their scope of work to support strategic decision-making and create plans that help the continuity of business activities. The market affected by all these changes is increasingly demanding in terms of good business practices and, therefore, these professionals are adapting also in the way of providing its services.
Many companies were not prepared for this moment and did not even have a structured continuity plan, but much has been seen of the strength of the internal audit teams, which deal with the matter in a specialized way, identifying weaknesses in controls and processes, for example, and helping to assess what needs to be carefully observed and proposing new important controls for the moment of crisis.
Internal audit teams are adapting to the current reality, playing an even more collaborative role with managers, who need to be aware of the company's routines, since errors and fraud at this time would increase the severity of the consequences. In addition to the opportunists, who take advantage of the crisis of restrictions and confinement to approach fragile people with illicit attitudes that influence various sectors.
We can say that internal audit plays a vital role in times like today. First, by carrying out crisis management and preparing the company for business continuity. Second, providing immediate risk mitigation services. Now, playing an advisory role in mapping the most relevant impacts has also become an essential task for the internal auditor.
Concerns exist, but there are always opportunities in times of crisis. The lack of physical presence of the auditor within the organization is a challenge, as it is part of their routine to closely monitor logistics, production and shipping processes, for example. However, professionals who use the technological tools available to address this aspect are achieving a greater scope of their work, as the provision of services at a distance expands the scope of care.
With the use of technology, many limitations inherent to isolation can be minimized and, in addition to investigative work, the internal auditor can also perform several actions remotely, which leaves him in a much higher level of importance in corporate governance. Backed by features like artificial intelligence and big data, you can even consult accounting and financial information to better understand the company's economic situation, obtaining a comprehensive view of its structure.
The moment asks the internal auditor, in addition to the traditional scope, to identify opportunities and suggest agile and creative solutions that bring new sources of revenue to companies. This task will become part of the scope of internal auditing even after the crisis, as then it will be time to assist in planning the return to work, post-crisis surveys and reassessments of processes and safety. Therefore, the relevance of the internal auditor's work, which was already significant, now increases its prominence in the current scenario, by helping in the timely identification of risks and opportunities.
Get in touch with TATICCA – ALLINIAL GLOBAL, which provides integrated auditing, accounting, tax, corporate finance, financial advisor, risk advisory, technology, business consulting and training. For more information, access www.taticca.com.br or e-mail taticca@taticca.com.br. Our company has professionals with extensive experience in the market and has certified methodologies for carrying out activities.