The role of Internal Audit in ESG in industrial and commercial companies


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Internal auditors and industrial/commercial companies are still looking for best practices in dealing with the risks and benefits associated with ESG. The regulation is evolving quickly and it is not just about compliance but about the business, strategy, culture, and operations that must evolve.

This position paper is a clear call for Board Members and Top Management to move towards a more sustainable business with Internal Audit as a valuable partner in this journey; leveraging on the experience, the business knowledge and the role Internal Audit plays in Governance, Risk Management and Internal Controls. In industrial and commercial companies, the support of Internal Audit can vary depending on the maturity of the organisation with opportunities also for less mature companies to invest and get ready.

The various roles are described and the question “if” Internal Audit could play a fundamental role over ESG” is no longer a question Boards and Top Management should ask but rather it is more of “how” they can best benefit from this privileged view.