Recognizing the month of May as International Internal Audit Awareness Month.
The resolution underlines the significance of internal auditing as it contributes to identifying and managing organizational risks. It asserts that internal auditors play a crucial role in establishing effective policies, procedures, and controls. By adopting a systematic and disciplined approach, state auditors are expected to strengthen governance processes, enhance risk management practices, and ensure compliance with regulatory requirements. This recognition could potentially encourage more robust internal auditing practices across state agencies and organizations.
Senate Resolution No. 698 aims to recognize the month of May as International Internal Audit Awareness Month. The resolution emphasizes the importance of internal auditing in bolstering organizations and safeguarding stakeholders in both public and private sectors. Internal auditors are highlighted for their roles in providing independent and objective assurance that enhances an organization's operations and ensures accountability to its stakeholders, including investors and the general public.
While the resolution primarily serves as a formal recognition of the internal auditing profession, it does not propose any amendments or changes to existing state laws. The lack of direct legislative impact may lead some to view it as a symbolic gesture rather than a substantive change in policy. Nevertheless, the acknowledgment of internal auditors' contributions and the call for increased awareness could foster a more favorable environment for the profession, enhancing its integration into organizational cultures.