The newly inaugurated president of the Institute of Internal Auditors – UK and Ireland, Philip Ratcliffe, has called on his profession to be tough-minded in facing the challenges posed by market turmoil and increasing pressures on operational management to perform.  “Now more than ever it is important for internal audit professionals to demonstrate their independence and tenacity.  We must balance the day-to-day demands of operational management with the need to serve audit committees and boards and ensure good governance. The fall-out from short-termism and poor risk assessment is all too evident at the moment,” he said.

Mr Ratcliffe, who today addressed the IIA’s annual conference in London, wants a renewed emphasis on internal audit as an informed yet independent resource.  “Internal audit must be responsive to what management wants, it must deliver assurance, but it ought also to maintain a wider perspective and professionalism and not be afraid to ask difficult questions when necessary.” 

The definition of ‘professionalism’ was a keynote theme in Mr Ratcliffe’s address.  Acknowledging the need for technical competence, thorough training and the right qualifications, he asked, “But what makes a great internal auditor?” and outlined what he described as ‘innate factors’ – communications skills, emotional intelligence, modesty, courage and also passion and commitment.

“Inspirational,” was another adjective used by the president in his wish-list.  He sees the successful internal auditor as being able to inspire management colleagues by demonstrating technical excellence, enthusiasm, drive and commitment.

Mr Ratcliffe, who is also leading the internal audit team at paper and packaging multinational, D S Smith, is looking forward to presiding over a number of major initiatives at the IIA during the next year.  The Institute is leading discussion on the definition of ‘Assurance’ and in January 2009 is re-launching its Global Standards.

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Click here to read Philip's biography.