ABSTRACT
Gaining a seat in the C-suite often reflects the level of professional breadth, maturity, and credibility of the chief audit executive. Direct and frequent access to decision-makers provides an opportunity to directly influence the organization's performance and conformance agenda, and the tone at the top, whilst safeguarding independence. This chapter focuses on a transformational agenda to deliver a high-performing internal audit “professional practice” with contemporary world-class features. It also highlights inherent vulnerability to “white-anting” when highly-accomplished professionals are appointed to transform a function that has individuals who are resistant to change. Boards, audit committees, and business leaders should expect internal audit function to add value to business. Where function becomes tired, lacks direction, and is not functioning at an optimal level, there is a risk that key stakeholders will miss out on critical insights. In these cases, audit committee might need to appoint a chief audit executive as a change agent to transform the function.
