Internal auditors and crisis management: a post-crisis outcome evaluation

Xinghua Gao, Jacob Jaggi and Han Yan

Journal of Accounting & Organizational Change, 2024, vol. 21, issue 4, 692-710

Abstract: PurposeThe purpose of the study is to understand how internal auditors in public US universities respond to and manage crises. As part of the post-crisis outcomes evaluation and learning process, the authors examine how internal auditors in public US universities manage their work and resources during the COVID-19 pandemic.Design/methodology/approachTo motivate the study, the authors analyze internal audit-related information from universities’ audit committee meeting records during the pandemic. Subsequently, the authors conduct semi-structured interviews with chief audit executives (CAEs) and senior internal auditors to learn about their experiences during the pandemic crisis.FindingsThrough the lens of the organizational resilience framework, the authors find that when managing crises, CAEs in US universities play a leading role in providing institutional and emotional support to staff; securing organizational, financial and technical backing from management and audit committees and exercising flexibility in using available resources. Additionally, internal auditors must assess the internal and external environments during crises and adjust their operations accordingly. Increasing professional outreach also helps internal auditors mobilize additional resources in adversity. To thrive in the post-pandemic era, when remote working models become popular, internal auditors need to increase informal communication with management and audit committees and sharpen their data analytics skills.Originality/valueThe study provides an opportunity for internal auditors and their stakeholders to reflect on the wins and losses during the pandemic and prepare for future challenges. The authors propose extending Kimberlin et al.’s (2011) organizational resilience framework by adding a communication factor.

Keywords: Internal audit; COVID-19 pandemic; Risk management; Crisis management; Organizational resilience; Remote working (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jaocpp:jaoc-03-2024-0110

DOI: 10.1108/JAOC-03-2024-0110

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