In its second report on “Internal Audit in a Post-COVID World”, the Institute of Internal Auditors (IIA) deals with global supply chains, which were severely hit by pandemic challenges and uncertainties, being only 2% of global supply chains prepared for such an event according to surveys of the US branch of the consulting firm Ernst & Young.
In this setting, Internal Audit Functions should act, performing analyzes, on how supply chains precisely developed within the pandemic and whether the organization’s response to supply chain crises was sufficient or not. From there, it should be examined according to the IIA, what role internal audit can play in developing more resistant supply chains as well as in mitigating risks arising within these.
You can download the report here.