IIA-Australia White Paper - Stakeholder Relationship Management

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Author	Bruce Turner AM CRMA, CGAP, CISA, CFE, PFIIA, FFin, FFA, FIPA, FIML, MAICD, JP
Date	2023
Topics Explored	Internal Audit
Format	White Paper
Extract/Description	Effective stakeholder relationships serve internal audit and its stakeholders. While internal auditors gain enhanced insight into the needs of stakeholders and how internal audit may assist them in achieving their objectives, stakeholders gain a better understanding of internal audit’s value. Both benefit from an improved alignment between internal audit’s work and stakeholders’ objectives.
Key Points	Stakeholder relationships can be complex, and may involve a broad range of internal and external parties who affect and/or are affected by the efforts of internal audit. Each stakeholder category may have different and sometimes highly specialised needs. A number of key strategies must be developed to maintain effective relationships with each stakeholder.
Relevant Industries	All
Level of Assumed Knowledge	Expert