Survey: Most Senior Managers Question Value Of Internal Audit

While many businesses say they have improved internal audit practices, progress there has not kept up with the increasingly risky business landscape, PricewaterhouseCoopers found in its 10^th annual “State of the Internal Audit Profession Study.” The study, which surveyed more than 1,900 chief audit executives, internal audit managers, members of senior management, and board members, found that 55 percent of senior management reported they do not believe internal audit adds significant value, and nearly 30 percent of board members believe it adds less than significant value. PwC suggests either internal audit is falling behind the curve of a changing risk environment, or is simply lacking the resources to meet rising board member expectations.