Er det risikofuldt at investere i selskaber uden intern revision

Er det risikofuldt – eller endda risikabelt – at investere i selskaber uden intern revision: In a blog earlier this year, I sounded an alarm about the dangers of investing in companies with no internal audit function. Ultimately, the goal was to raise awareness of the risks that accompany the absence of internal audit in publicly traded companies. That effort took an important step forward last week when The IIA formally recommended to the U.S. Securities and Exchange Commission that all publicly traded companies be required to have an internal audit function. There have been a number of high-profile financial and corporate governance scandals of late that should hammer home the absolutely necessity of good corporate governance, and it should go without saying that internal audit adds value to that process by providing effective oversight of the control environment. Yet, there are many enterprises — large and small — that continue to operate without internal audit. The IIA’s letter to the SEC outlines the case for internal audit to serve as a foundation for — if not a catalyst to — restoring investor confidence. Indeed, the presence of an effective internal audit function signals unequivocally management’s and the board’s support of strong and effective risk management, internal control, and governance. When a publicly traded company has no internal audit function, one must ask: Who is providing the independent and objective assurance and insight the board needs to determine how well risk and the mitigating controls are being managed? This may sound self-serving, but if it is only management that provides that assurance, the board may be operating at a disadvantage. We have seen too many recent examples of management’s influence contributing to a toxic corporate culture that can destroy shareholder value. Neither boards nor the shareholders they serve can afford to rely on a single lens when assessing how well risks are being managed or controls are being designed and implemented in companies in which they have a vested interest.