Managing Internal Audit Resources: Financial, Human, and Technological Perspectives

Have you ever found yourself in front of your board, explaining why your audit team needs more resources, only to be met with blank stares—or worse, polite resistance? If you’ve been there, you know the frustration. You can see the risks looming, you know what needs to be done, but you just don’t have the budget, people, or tools to get the job done.

The?new Global Internal Audit Standards (2024)?change the game. They offer a?clear framework?that makes it easier for you to show stakeholders why resources matter—and how they directly impact your ability to protect the organization. Your goal isn’t just to secure resources; it’s to?align them strategically?with your organization’s needs and use them effectively to deliver meaningful value.

Here’s how to approach it, step-by-step, so you can manage what you have, justify what you need, and make every investment count.

Make Every Dollar Work for You

Your budget tells a story about what your audit function values. But it’s not about having a big budget—it’s about?spending smartly?to support your plan and address the right risks. If cybersecurity is becoming a bigger threat, for instance, your budget needs to reflect that shift by allocating more to IT audits.

It’s also wise to?keep a little flexibility?in your budget. Risks don’t always announce themselves ahead of time, and you don’t want to be caught off-guard without the resources to respond. Setting aside a contingency fund can save you from disruptions when surprises hit.

And don’t forget about?outsourcing. Co-sourcing with external specialists for niche tasks, like forensic investigations, can give you access to expertise without stretching your internal team too thin.

Pro Tip:?When presenting your budget, don’t just show numbers—talk outcomes. Say, “By investing in new training programs, we’ll improve our ability to identify compliance risks early, reducing the chance of costly penalties.”

Build a Team That Can Adapt and Thrive

Your team is your greatest strength—if they have the right skills and the space to grow. Regularly assessing what your team can and can’t do will help you figure out whether to?train, recruit, or bring in outside help.

Sometimes,?it makes sense to co-source. If you need an IT audit done but don’t have the expertise in-house, why struggle? Bring in specialists and let your internal team focus on the areas they know best.

But building a team isn’t just about filling skill gaps—it’s also about?keeping your people engaged. Staff who feel challenged and valued are less likely to leave, and turnover is expensive. Invest in certifications like CIA or CISA, and create on-the-job opportunities that stretch their capabilities.

Pro Insight:?Give your team meaningful leadership roles on high-impact projects. When people see a future for themselves in your function, they stay—and they thrive.

Use Technology to Multiply Your Impact

Technology can either be a powerful ally or a source of frustration—it all depends on how you use it. The key is to?invest in tools that make a real difference. Audit management software, for example, can streamline your workflows, while data analytics tools can help you detect risks before they escalate.

?Automation?can also free up your team from routine tasks, giving them more time to focus on areas that truly matter. Robotic Process Automation (RPA) can handle follow-ups or data extraction, allowing your auditors to spend more time on high-value work.

Collaboration with your IT department is essential here. A well-supported system will run smoothly and integrate easily with your existing processes—saving you time and headaches in the long run.

Pro Tip:?Track the results of your technology investments. When you can show how tools improve efficiency and expand audit coverage, it becomes easier to justify future upgrades.

Focus on What Matters Most

Managing resources effectively isn’t about spreading yourself thin—it’s about?focusing on high-impact areas. A risk-based approach ensures your efforts are directed toward the most critical issues.

As risks evolve throughout the year, your audit plan should adapt with them. If a new issue emerges—like a cyberattack—you may need to reallocate resources from less critical areas.?Keeping your board informed?about these shifts builds trust and keeps them on your side.

Sometimes,?outsourcing strategically?can be the difference between meeting expectations and exceeding them. Critical audits—like operational reviews—should stay in-house to maintain continuity, but specialized areas, such as fraud investigations, are ideal for outsourcing.

Pro Tip:?Don’t shy away from having tough conversations with stakeholders about trade-offs. Transparency builds trust. If shifting resources means delaying a lower-priority audit, communicate early and clearly.

Communicate Your Value Constantly

Boards care about?results, not effort. If you want their continued support, you need to?tell your story in numbers they care about. Track key metrics like risks mitigated, audit recommendations implemented, and cost savings achieved—and share those wins throughout the year, not just in your annual report.

Showing how your work contributes to the organization’s success makes it easier to get the support you need. It’s not just about ticking boxes; it’s about?delivering value and building trust.

Pro Tip:?When you connect your results to business outcomes, you shift the conversation from “Can we afford this?” to “Can we afford not to?”

Conclusion: Align Resources, Deliver Value

The?Global Internal Audit Standards (2024)?give you the structure you need to align your resources with the risks and priorities of your organization. Your job isn’t to ask for more—it’s to?make what you have work smarter.

By?focusing on high-risk areas, building a capable team, and investing in technology that delivers real results, you’ll position your audit function as an essential partner in managing risks and driving value. Managing resources well isn’t just a necessity—it’s your function’s greatest advantage.

And here’s the best part: When you align your resources right, you don’t just meet expectations—you exceed them. That’s the kind of impact that keeps stakeholders coming back for more.

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