The Role of Internal Audit in Corporate Social Responsibility Strategies

Abstract

Internal audit can play an important role in corporate social responsibility (CSR) strategies. The role depends on the degree of maturity of the organization, including the maturity of CSR, as well as the degree of maturity of the internal audit. It is essential that the internal audit provide assurance about the CSR strategies. At the same time, internal audit can be a driver, a leader that will stimulate the creation and development of a CSR strategy. In fulfilling this role, an internal audit applies a holistic approach. In this context, it is also important to encourage the development of a comprehensive CSR management and control system. CSR is a delicate activity. In this sense, an internal audit faces many threats. In order to be really useful and meet expectations, the internal audit needs to be independent. The competence of internal auditors in the field of CSR, as well as the business as a whole, needs to be constantly improved. The strategic objectives of the internal audit should be in line with the organization’s objectives, including those related to CSR.