As per PwC’s 2016 state of the internal audit profession study, more than 50% of the participants agreed that internal audit is essential for increasing the value of any business. However, the success of an internal audit is not easy to achieve. A strong leadership enforces the effectiveness of all the audit functions. Here are some characteristics which leaders handling audits should exhibit. 

Follow a planned vision

An effective leader follows a planned vision when it comes to handling audits. His vision falls in tandem with the company and its shareholder’s expectations. They then convert these visions into strong future plans and even execute them for the benefit of his company.

Hiring the right talent

Often lack of appropriate talent is considered as a barrier to be able to achieve success in the corporate world. An effective audit leader handles this by mentoring the right candidates and the ability to source correct talent if needed. As per the report, 73% of the leaders use co-sourcing as an integral part to do so.

Broad thinking

Internal audit leaders are supposed to inform and convince the stakeholders that everything is progressing in the right direction. In fact, this also is one of their most tricky job responsibilities as dealing with each and every stakeholder is not as easy as it seems.

Partnering with the business

An internal audit leader first builds up trust and develops relationships in the workplace. They also need to build partnerships and coordinate how to handle risks in the business. Later they take up senior positions and then work in accordance with the management, compliance and other legal functions.

Internal audits are a tough task and only selected few individuals can be given the responsibility to complete this job. With a clear vision, these people are able to execute this task and also keep the company‘s vision and policy in mind.