{"id":1176,"date":"2013-08-16T22:24:44","date_gmt":"2013-08-16T22:24:44","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=1176"},"modified":"2022-07-01T07:47:04","modified_gmt":"2022-07-01T07:47:04","slug":"utilizing-dedicated-internal-audit-resources-for-shared-services","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2013\/08\/utilizing-dedicated-internal-audit-resources-for-shared-services\/","title":{"rendered":"Utilizing Dedicated Internal Audit Resources for Shared Services"},"content":{"rendered":"

The Shared Services model emerged in the mid-1980s at about the same time that Internal Audit processes were being redesigned with the introduction of control self-assessment techniques where the testing of controls is completed within the organization by the same people who are responsible for the process, and thus have the most knowledge about how the process works.\u00a0 \u00a0The COSO framework published in the early 90s that provided guidance for monitoring internal control systems further refined this approach.\u00a0 In other words, at the same time that Shared Services was working towards becoming a valuable internal service provider, the focus of Internal Audit was also shifting towards becoming an effective internal consultant<\/a> and business partner.<\/p>\n

Change doesn\u2019t always come easily.\u00a0 Now, almost 30 years later, even though internal auditors and Shared Services process owners have common objectives, creating a culture of collaboration and partnership can be challenging.\u00a0 While some may embrace it, for many the idea of having an Internal Audit function<\/a> that is dedicated to monitoring Shared Services operations is an uncomfortable idea.\u00a0\u00a0 A recent iPoll1<\/sup> in the Shared Services Leadership research area<\/a> asked the question, \u201cDoes your company have an internal audit function that is dedicated to monitoring Shared Services operations?\u201d\u00a0 The results were surprising, with 26% who have implemented this approach and 63% who responded that the idea had not yet been evaluated.<\/p>\n

Here are the details:<\/p>\n

\"ipolling<\/p>\n

As indicated in the follow-up question below, for the 26% of companies who have implemented, most have Internal Audit resources that are co-located within Shared Services, with audit resources working onsite, side-by-side with the work processes that are being monitored.<\/p>\n

\"where<\/p>\n

The iPoll generated some good discussion with many respondents adding comments to provide further insight.\u00a0 Here are some of the comments:<\/p>\n