Key points

• Introduction [00:00-00:06]
• The role of advisory services in internal audit [00:07-00:27]
• Balancing objectivity with advisory work [00:28-02:06]
• Early engagement and its impact on risk management [02:07-04:49]
• Real-world example: social media consulting [04:50-05:56]
• Advisory services in small vs. large internal audit functions [05:57-07:06]
• Pre-implementation reviews as a key advisory opportunity [07:07-09:32]
• Addressing the fear of losing objectivity in advisory work [09:33-10:45]
• Demonstrating advisory value to audit committees [10:46-14:08]
• Using assurance work to identify advisory opportunities [14:09-17:02]
• Developing skill sets for effective advisory work [17:03-19:03]
• The impact of strong relationships and trust in internal audit [19:04-22:41]
• How the Global Internal Audit Standards support advisory services [22:42-26:06]
• Fostering an advisory mindset within audit teams [26:07-28:18]
• Strategies for internal auditors to enhance their influence [28:19-30:37]
• Final thoughts and advice for internal auditors [30:38-32:00]