Most internal audit functions spend between 80 and 100 percent of their time doing traditional internal audits, commonly referred to as „assurance work“. Yet, many also do a certain amount of counseling and strive for more.
A lot of senior auditors are concerned about how the limited internal audit resources should be allocated across these two activities.
Many boards of directors and audit committees expect the internal audit to focus on the audit work. However, advisory work is more likely to create more immediate and tangible value, improve relationships, and raise the profile of internal audit in the organization.
Read the whole article about „Assurance vs. Advisory Work: Is it Time to Rebalance?“ here.