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, whose scope of work is to provide support for strategic decision-making and to create plans that help the continuity of business activities. The market affected by all these changes is increasingly demanding regarding good business practices and for this reason, these professionals are also adapting in the way they provide their services.
Many companies were not prepared for this moment and did not even have a structured continuity plan, but much has been seen in the strength of the internal auditing teams, which deal with the issue in a specialized manner, identifying weaknesses in controls and processes, for example, and helping to assess what needs to be observed carefully and proposing new important controls for the time of crisis.
Internal auditing teams are adapting to the current reality, presenting 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 address frail people with illegal attitudes that influence various sectors.
We can say that internal auditing plays a vital role in times like the current one. First, to carry out crisis management and prepare 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, since it is part of their routine to closely monitor logistics, production and shipping processes, for example. However, professionals who use the available technological tools to address this aspect are achieving a greater scope of their work, as the provision of remote services expands the scope of service.
With the use of technology, many limitations inherent to isolation can be minimized and, in addition to investigative work, the internal auditor can also carry out various actions remotely, leaving him at a much greater level of importance in corporate governance. Backed by resources such as 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 companies new sources of revenue. This task will become part of the scope of internal auditing even after the crisis, since then the time will come to assist in planning the return to work, post-crisis surveys, and reevaluations of processes and security. Thus, the relevance of the internal auditor's work, which was already significant, now increases its prominence in the current scenario, helping to identify risks and opportunities in a timely manner.
Contact TATICCA — ALLINIAL GLOBAL, which provides integrated auditing, accounting, tax services, corporate finance, Financial Advisory, Risk Advisory, technology, business consulting and training. For more information, visit www.taticca.com.br or email taticca@taticca.com.br. Our company has professionals with extensive experience in the market and has certified methodologies for carrying out activities.
