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One year after the start of the pandemic in our country, we continue to experience severe damage that, as a society, we have not been able to overcome: a prolonged health, economic and social crisis, excessive unemployment, deficiencies in education, slowdown in local and foreign trade, to quote Some; and adding to it, a new electoral contest that brings with it its own aliquot of uncertainty.

Overcoming the aforementioned conditions still represents a great challenge for the Peruvian business community. Although State policies have generated unfortunate repercussions in various sectors (in a publication in January 2021, the ILO estimated that in the second quarter of 2020, the average income of a Peruvian worker fell by 56.2%, the most aggravating case worldwide , above countries such as Brazil, Italy and the USA), under this context, organizations continue to reformulate strategies and action plans that promote their economic and social activity.

Business environment

The business ecosystem exposes sectors that are very affected (and benefited, exceptionally), having greater opportunities those organizations that knew how to provide agile responses and innovative solutions to the threats that attacked the BSC objectives of the business: analyzing this last expression, we can make an analogy of what which represents business risk management, since those who efficiently manage their risks have greater opportunities to contribute and survive in an increasingly demanding and fluctuating market such as Peru.

An aspect little considered in the agenda is the level of maturity of an organization; From a global perspective, the most significant participation of Peruvian companies points to being Mype and SMEs, and why not also mention non-formal businesses, which increased during this last year. Jorge Ochoa, president of the Small Business Association of the Lima Chamber of Commerce, already mentioned it: "If the MSMs go bankrupt, Peru goes bankrupt.". What lessons can we learn from the Reactiva Peru and FAE Mype programs, granted by the government to support the business niche? Apart from the legumes exposed in the media, it is undoubtedly the limitation and inequity in the direct access of these benefits for a sector that could not be reached, or rather, it was not possible to qualify?

A trident called: Government - Risk Management – Control

The International Framework for the Professional Practice of Internal Auditing (hereinafter, the Framework) in its section related to Performance, establishes very clearly the following: The Internal Audit activity must evaluate and contribute to the improvement of governance processes, risk management and control, using a systematic disciplined risk-based approach. The credibility and added value of Internal Audit improve when internal auditors are proactive and their evaluations offer new perspectives and consider future impacts ”.

If we create a bridge between the aforementioned concepts and the reality that Peruvian companies face, we can identify needs (opportunities) that have not yet been met, because despite the fact that some organizations present figures in blue and are still in contention within a sensitive market, It will be difficult for them to have the momentum required to take the next step towards growth, expansion and / or sustainability, or worse still, the continuity of their operations may be threatened by unforeseen factors, depending solely on the perspectives of the leaders who take the steps. organizational decisions.

What does the implementation of these three frameworks offer? It offers opportunities: these practices should not be limited only to a few entities for the mere purpose of compliance with regulatory entities, but for the substantial benefits that contribute to rescuing and reaffirming the own value of organizations, brands and product portfolios. If we stop to reflect on it, every company has process owners who know how to face and solve daily problems in the commercial areas, operations, finances, human resources, among many; If we add the perspective of the “trident” to that business model, we not only clarify a roadmap for the achievement of objectives, but we also develop our own culture and identity, which together with adequate monitoring, would allow us to reach the next level of maturity, thus strengthening its value in the market.

Internal Audit and its contribution to the creation of value

As established in the Framework, the practice of Internal Auditing is oriented to:

  • Evaluate and make the appropriate recommendations to improve the Governance processes in the organization,
  • Evaluate the effectiveness and contribute to the improvement of Risk Management processes, and,
  • Assist the organization in maintaining effective Controls, promoting continuous improvement.

Let us also remember that the Internal Audit practice can be carried out from the role of assurance as advice, in the strategic, operational and support processes in an organization through a methodology that "engages" with any business strategy. From the perspective of controls, for example, internal auditors are qualified to evaluate their design and effectiveness, proposing improvements related to risk and governance aspects through the following fronts:

  • Achievement of strategic objectives of the organization,
  • Reliability and integrity of financial and operational information,
  • Effectiveness and efficiency of operations and programs,
  • Asset protection, and,
  • Compliance with laws, regulations, policies, procedures and contracts.

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