Is your organization equipped to respond to challenges such as cyber breaches, natural disasters, reputational scandals and succession planning? In the wake of the COVID pandemic, your ability to prepare, react, respond and recover from a crisis was tested, and that ability will be further tested in the future.
When asked whether their organization had the knowledge and capability to address a disaster, many board members and executives expressed concerns, while Chief Audit Executives were more confident. This disparity suggests an opportunity for Internal Audit departments to communicate better about organizational capabilities that may not be visible to their board or management team.
- Recommended frameworks for assessing crisis/disaster preparedness
- Components every recovery plan should include
Why It Matters
Internal Audit teams must both prepare for disasters and communicate that preparedness to the board and executives. This article provides some tools to assess how ready your organization is for the next emergency.