Lean Auditing: Driving Added Value and Efficiency in Internal Audit

Cover Lean Auditing: Driving Added Value and Efficiency in Internal Audit

Lean Auditing: Driving Added Value and Efficiency in Internal Audit

Using lean techniques to enhance value add and reduce waste in internal auditing

Risk & Assurance Insights
quoteHow can you argue with the core principles of Lean, that you focus on what provides value to your customer and eliminate work that is not necessary (muda)? Internal auditors need to understand not  only who their primary customers are, but what is valuable to them – which in most cases is assurance that the risks that matter to the achievement of objectives are properly managed. We need to communicate what they need to know and not what we want to say. This incessant focus on the customer and the efficient production of a valued product should extend to every internal audit team. How else can we ensure that we optimize the use of our limited resources to address the dynamic business and risk environment within which our organizations operate?

In today’s world of financial constraints, increased regulations, and a focus on corporate governance, internal audit departments are under pressure to get the most from limited, frequently reduced, resources.

In Lean Auditing, James Paterson demonstrates how this conundrum can be solved. In clear, accessible language he explains the principles and techniques of Lean, and how these can be applied to the practice of internal audit. The result is not only increased productivity and reduced waste within the IA function, but also improved results and sustainability across the organisation.

Utilizing numerous “war stories” from his own extensive experience (consulting and training across the globe), alongside input leading Chief Audit Executives and contributions from highly regarded figures in the IIA profession, he brings to light many of the real-world practical and political challenges currently faced by audit functions and numerous practical suggestions concerning how to enhance the productivity and value adding contribution of internal audit.

Paterson also puts forward the compelling case concerning the importance of IA taking up a Lean and progressive role, so that it can deliver lasting strategic value, not simply routine compliance and control auditing. In clear, straightforward terms, supported by many practical examples, he argues that lean principles can be a key tool to allow the IA profession to come of age; no longer the poor relation to external audit, and able to take its seat at the top table.

Lean Auditing is a unique resource for those with an interest in auditing, providing support and inspiration to all who seek to step up the value-adding contribution to their organisation, whilst improving productivity and efficiency. It is also a useful guide for senior managers and Board members who are looking to get the best from their audit resource. Every chapter concludes with practical recommendations for audit professionals, senior managers and board members.

Lean Auditing: Driving Added Value and Efficiency in Internal Audit is published by Wiley.

James C. Paterson
ISBN: 978-1-118-89688-4
328 pages
January 2015
Publisher: John Wiley & Sons

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Risk & Assurance Insights
quote Well done !! - so many excellent points and great quotes
Risk & Assurance Insights
quoteAn excellent read. James takes a profession that could be seen as dull and boring and brings colour to it. This is a book [Lean Auditing: Driving Added Value and Efficiency in Internal Audit] for progressive auditors and the next generation - individuals who really see the value in what they are doing and how to get the absolute maximum from the resource. It will also be useful for those people who choose auditors and get audited - what they should be looking for and the questions they should be asking.
Risk & Assurance Insights
quoteJames Paterson's book [Lean Auditing: Driving Added Value and Efficiency in Internal Audit] provides the reader with an excellent guide to lean auditing. But not only that it also provides the reader with an excellent framework for how to lead an Internal Audit function and how to develop strong working relationships with internal audit's key stakeholders.
Risk & Assurance Insights
quoteJames Paterson's considered explanations of lean and how it applies to internal auditing are extremely useful for internal audit professionals who want to develop their own capabilities and the capabilities of their audit function and the efficiency and effectiveness of the wider organisation in which they work. There are many internal audit activities which can be improved using the principles explained in this book [Lean Auditing: Driving Added Value and Efficiency in Internal Audit].
Risk & Assurance Insights
quoteI would thoroughly recommend this book [Lean Auditing: Driving Added Value and Efficiency in Internal Audit] to Heads of internal audit, and all internal audit professionals, who want to deliver more valuable work to their key stakeholders (and their organisation's underlying customers) and who want to ensure that they focus their efforts on only the most valuable internal audit work. Now, who doesn't want to deliver that?

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