Internal Audit – It’s time to change from Watchdog to become Policy maker. If you see the current scenario you will all agree to my above statement. It is not a one line statement it’s a need of the hour.

We all know that as an Internal Auditor we audit the areas which management wants us to audit. Most of the times we don’t go beyond that and doing the same for years. This has to be changed now. Why… here are the reasons:

  • Satyam Fraud
  • PNB (Punjab National Bank) scam
  • IL&FS (Infrastructure Leasing & Financial Services) default
  • Punjab and Maharashtra Cooperative (PMC) Bank

Decision makingIf you see the list mentioned above you will find the answer of Why.

Every time Auditor is answerable. Every time Auditor is accountable for wrong doings of the management. If it is the case then why we are not been part of managements every meeting, whether it is related to day to day operation or a strategic decision making. Many will say that there are functional heads who are there for full time doing their job. But whenever anything wrong happens which has harmful to interested person (many times general public in large), at that time first finger is pointed towards Auditor – “What was Auditor doing?”

Therefore it’s a right time to awake and we all have that potential.

  • Just does not be a Reporter.
  • It’s time to be a Decision Maker.
  • Tell your client onwards that I want to be a part of every decision which has an impact on organisation as a whole.
  • We are definitely capable of giving our best to an organisation in every aspect.
  • It will not only value added in our service but also it will add value to our client by way of goodwill and image building.

So Think and start Acting upon above….so no one can dare to point out a single finger towards us in near future!!

Have a Wonderful Changeful Audit style in Future!!

You can reach to me at rohanrp1983@gmail.com

Author Bio

Qualification: Student - CA/CS/CMA
Company: CA Rajendra Y. Padhye
Location: Mumbai, Maharashtra, IN
Member Since: 02 Mar 2019 | Total Posts: 21

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