ABSTRACT
This chapter provides a reminder of the continuing merits of obsolescent practices (like surprise audits) in some circumstances. It also reflects on the personal triumph of getting back up after a brutal and unprovoked life-changing experience. Internal auditing has evolved through varying styles over the last 40 years, with each new style building on the one before to satisfy the changing business needs and the emerging expectations of key stakeholders. The capabilities of internal auditors have continued to expand to satisfy these demands, and this introduced a new wave of trail-blazers. The business environment is constantly evolving. This is often driven by a desire to improve business performance, implement better ways of working, or position the organization to succeed in a more competitive industry. A robust product risk assessment will equip business leaders with the information needed to understand the merits, or otherwise, of launching the product, and whether it is a good investment for the business.
