2021 President’s Message

Internal Audit Reset: Anticipate the unthinkable

My fellow members and internal audit professionals,

On behalf of my fellow board of trustees, committee chairpersons, and member-volunteers, let me thank you for supporting the Institute through a challenging 2020 and greet you a prosperous and healthy new year!

As the pandemic continues to linger and derail recovery efforts from all sectors, additional challenges and uncertainties beset the country. The threat of the new coronavirus variant, concerns on the availability/effectiveness of vaccines, and the economy’s contraction, among others, are without a doubt overwhelming.

The work of internal auditors’ can never be more valuable than it is right now. We are well-positioned in the organizations to provide objective, constructive, and significant hindsight, insight, and foresight to help management achieve its goals.

Therefore, the need for internal audit transformation to help organizations address the disruptions, distractions, and disintegration presented by the current business and economic environment is imperative.

This year, my thrust as your elected Chairman & President is for an “Internal Audit Reset: Anticipate the unthinkable.” We are being called upon to anticipate, participate, and advocate to enhance our value in the organization. We have to be more proactive & become front liners in adapting to the changing times in terms of our role, competency, skills, and capability. We should be forward-looking, receptive to working with the first and second lines in identifying emerging risks.  We should also be ready and equipped to share our perspectives and insights on these risks and ways to address them.

In the global theme “reimagining resilience” through technology, agility, collaboration, talent, and tenacity (TACTT), The IIA urges us to focus on these five core imperatives to rise to the challenges ahead.

Now I bid you join your elected board of trustees and me as we lead the Institute and forge ahead in 2021 and beyond. If we remain a united IIA network, utilize the resources made available to us, participate in the IIA initiatives, and work together for a strong, resilient, and agile profession and internal audit community, nothing is impossible nor unthinkable.

Amador A. Racpan

Head, Risk Management

Agribusiness Rural Bank