Many aspects of business organizations today are challenged to do more with less, and the internal audit activity is no exception. As executive management and boards are increasingly recognizing the criticality of managing risks throughout their organizations, they are expecting more of their internal auditors than ever before.

Many chief audit executives must confront the possibility of outsourcing some of their work to ensure that everything with which they are tasked is completed in a timely and competent manner. Whether the risks be operational, strategic, financial, or reputation-, technology- or compliance-oriented, they can put an organization's very survival at stake. And savvy CAEs must be ready and able to assess and report on them all, regardless of the size and expertise of their staff.

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