Internal Audit in Pandemic Times (التدقيق الداخلي في ظل الجائحة) (PDF)

The coronavirus or the Covid-19 pandemic has gone from being a story we heard about in the news, to a growing concern, to an almost worldwide lockdown, and then finally a global macroeconomic issue in just the matter of a few months. The spread of the virus scared markets into a freefall as the virus began to spread throughout the world. Although nobody is quite sure how this whole saga will end, all organizations, entities, and institutions need to be prepared for a vast array of possible effects and outcomes as we get deeper into this crisis.

While internal audit has evolved over the years, it is the challenges of recent times that have highlighted how the internal audit function continues to be a trusted advisor for organizations.
Those internal audit functions which have been able to effectively help their organizations navigate through risks during the pandemic are guided by three key principles – agility, speed, and the ability to maintain cost-effectiveness.

During a time of crisis, the role of internal audit is significantly amplified. Internal audit departments play a major role in helping the organization assess risk and facilitate new strategies, controls, and policies. Circumstances, especially during a crisis, are often rapidly changing. It is imperative for the organization's internal audit department to remain agile, flexible, and objective throughout the crisis.

This document presents the new role of internal auditing during pandemic times and how the internal auditing department can support the organization in such critical time.