“Green” is a definition of everything related to protecting the environment and supporting sustainable development. This definition has been used to show that organizations are environment friendly and support sustainable development. They also adopt goals, policies and procedures for achieving that.
Green Internal Audit?
Green internal audit will be considered within the scope of internal audit where internal auditors perform a role in solidification of the green atmosphere of the organization they work for, as they are not involved in direct initiatives in this area. Green internal audit is “to provide assurance on the effectiveness of practices implemented by organization to support the environment and sustainable development in order to add value to the organization and expand its status.”
Role of Internal Audit
The purpose of the Green Audit is to protect the environment and it proposes the best policies for value addition and sustainable development. Keeping in mind the current scenarios of work from home and virtual audits, the first step towards environment has been taken. Organizations must be guided for strongly moving to soft copy and electronic based recording and documentation instead of just maintaining data on hard copies. This is one implicit benefit of remotely working.
Internal audit’s significance in this regard begins by including risks related to environment and sustainable development within the risks assessed for setting up the audit plan. It may be important to include an audit within the annual plan, which may include audit programs within its scope to cover, some aspects of sustainable development individually.
In addition, it is important to adequately evaluate what an organization has done in this area. Internal auditor evokes that this requires improving the knowledge of the auditors in the area to meet the expectations of the stakeholders and to add value to the organization in which it operates.
Ultimately, Green Internal Audit is an opportunity for each internal auditor to demonstrate his or her expertise through non-traditional audits, add value and meet organization’s expectations as internal auditors. Finally, the requirements of internal audit principles should be achieved by having a forward vision as sustainable development goals seek a better future for humanity.
-Paras Gupta (author); Pavitra Jain (co-author), ShineWing India