Fund members, managers, and auditors all benefit from a better directed fund. In fact, as this organization matures, I see us getting more involved in the development of accounting and auditing standards. After all, we are experts on auditing, accounting, and reporting standards for public pension funds. Simply put, the objective is to assist the organization in the effective discharge of their responsibilities. Consequently, our goal is to help employees ensure that information is reliable and has integrity, that the laws, regulations, plans and policies are complied with, that assets are safeguarded, operations are efficient, and business goals are achieved.
Management increasingly views the internal audit function as a highly effective management tool.
If an organization uses the audit function as a policing tactic, it cannot be effective. If employees understand we have the same goals and objectives that they have, the auditors will be more effective. For example, our audit reports no longer point the finger of blame but have become an advocate of change. Information previously presented in the report sections entitled Auditors Recommendations and Management's Response is now presented in one section entitled Plans for Action. The result, immediate buy-in.