At the institute one of our busiest teams is the membership team. They field calls and emails on a daily basis from members on a range of subjects. They are also asked about the benefits of membership by prospective members, who want to know what’s in it for them. But I like to think that it’s much more than just access to resources and cheaper deals on events. It’s about being part of a community, with the institute as its focal point, that can influence the way organisations are run and how our profession is perceived in a way that just wouldn’t be possible individually.
This is a core benefit of being a member of the Chartered Institute of Internal Auditors. The larger our membership can grow, the more we can do to promote and develop the profession. Unlike the accountancy profession, we are the only body in the UK that solely represents internal auditors. So when we speak, we can do so with the authority and experience of over 9,000 practitioners in the UK and Ireland behind us.
Our work on the FRC’s culture coalition is just one example of this. Over two hundred of you completed our questionnaire on auditing culture. That gives us a strong foundation on which to base our contribution to the coalition. We are leading the “assurance and embedding” workstream of what could be a landmark project on organisational culture in the UK. The voice of the profession would not be heard without the support of our members.
Promoting the role of the profession is only half of our mission. We also work hard to develop the profession. For our members, it is invaluable to know that they are part of a body that promotes consistent professional standards and upholds a code of ethics with a fair disciplinary procedure. These have evolved in response to a changing business environment where internal audit’s role is being transformed and its scope broadened as recognition of its role increases. Through all of these things, we are helping to shape expectations of the profession and support members individually and collectively to meet them.
Member interaction is essential to our continued success and we need to build on the views, experience and networks of our members and the wider profession. Our new sector strategy demonstrates this in action. Currently active for the financial services sector, our sector strategy involves new and updated guidance on topical issues, sector-specific events and increased representation and member input via our policy and influence work. This strategy is coordinated through a new panel of members in the sector, who provide the institute with vital feedback, opinions and insight which underpin our programme. This is where you can really add value. We aim to roll out this new strategy to more sectors in the coming months.
Achieving our two strategic goals of promoting and developing the profession will help to increase demand for highly skilled internal auditors who are able to adapt to a changing world. It also allows us to improve the quantity and quality of practitioners who are institute members. We hope that this is a virtuous, continuous cycle, as we both raise expectations and meet them. But these goals can only be realised with your support.
For more information about how the institute spends your membership fees, visit www.iia.org.uk/renew.