Group Internal Audit at IAG Adds Structure to Risk Culture Audits With a “Triage Approach”

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Lee Sullivan, group general manager of internal audit at Insurance Australia Group’s (IAG) sought advice on auditing risk culture from experts outside of the company before settling on what he calls a “triage approach.” This process involves completing a maturity assessment on key behavioral enablers so that auditors can form a view of the risk culture within the area being reviewed. “The goal of the risk culture audits is to provide a cultural reason for control issues and other findings,” Sullivan says. “Risk culture insights often help us to identify the true root causes of failures and issues, thus providing an improved chance of properly fixing those root causes and not just the symptoms.”

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