The Seat at the Table: What Boards Expect from Internal Audit
Reflections from the Bagaka Group x NRF 2026 Chief Audit Executives Leadership Forum
At the Bagaka Group x NRF 2026 Chief Audit Executives Leadership Forum, the keynote address challenged Internal Audit to evolve from a compliance-focused function to a strategic partner. The first panel discussion built on that message by exploring a critical question:
What do boards actually expect from Internal Audit?
The discussion, featuring Dawn Earp, Thoko May, and Moses Mbedhli, provided valuable insights from the perspectives of board members, audit committee leaders, and Chief Audit Executives. While the conversation covered topics ranging from emerging risks to technology and governance, one theme consistently emerged: Internal Audit’s influence is determined not only by what it audits, but by the credibility, insight, and trust it brings to the organisation.
Internal Audit Already Has a Seat at the Table
For many years, Internal Audit professionals have spoken about the need for greater influence within organisations. However, according to Thoko May, the profession may already possess more influence than it realises.
As she noted during the discussion:
“You’ve got an automatic seat at the table. Use your voice when you get to the table.”
This observation shifts the conversation from access to impact. The challenge facing Chief Audit Executives is not necessarily gaining access to governance structures, but rather using that access to bring meaningful perspectives to strategic conversations.
Internal Audit holds a unique position within organisations. Few functions have visibility across governance, risk management, controls, operations, compliance, technology, and strategy. This vantage point creates an opportunity—and a responsibility—to identify emerging risks, connect seemingly unrelated issues, and help leadership make more informed decisions.
Understanding the Business Before Auditing It
Another recurring message throughout the panel was that technical audit expertise alone is no longer enough.
Boards increasingly expect Internal Audit to understand the organisation’s purpose, operating model, strategic objectives, and key risks. Without that understanding, assurance activities risk becoming disconnected from what matters most to organisational success.
Moses Mbedhli illustrated this point through the example of SASSA and its mission of delivering the right social grant to the right person at the right place and time. He argued that Internal Audit plans should be aligned to the strategic purpose of the organisation and that auditors must understand the environment in which they operate before attempting to provide strategic advice.
This perspective aligns closely with the evolving role of Internal Audit as reflected in the Global Internal Audit Standards and modern governance practices. Assurance is most valuable when it is connected to organisational objectives and helps leadership navigate uncertainty while achieving strategic goals.
Boards Want Insight, Not Just Findings
One of the most compelling discussions centred on how boards measure the value of Internal Audit.
Historically, Internal Audit functions were often evaluated by the number of findings raised or audits completed. Yet the panel suggested that this is no longer sufficient. Boards are increasingly interested in understanding the implications of emerging risks, technological change, cyber threats, artificial intelligence, organisational resilience, and strategic execution.
Dawn Earp emphasised the importance of Internal Audit helping boards understand what is happening across the organisation and what may be coming next. In today’s environment, where risks evolve rapidly and stakeholder expectations continue to increase, boards require more than retrospective observations. They require insight.
This expectation is reflected in King V’s emphasis on governance outcomes such as Performance and Value Creation and Conformance and Prudent Control. Organisations are increasingly looking to assurance functions to contribute not only to control effectiveness but also to sustainable value creation and organisational resilience.
Building Trust Through Credibility
If there was one concept that united all the panelists, it was trust.
Trust underpins the relationship between Internal Audit, management, audit committees, and boards. Without trust, even the most technically correct audit report may fail to achieve its intended impact.
Thoko May highlighted the importance of credibility, consistency, independence, and competence in building confidence among stakeholders. Boards need assurance that Internal Audit’s work is objective, evidence-based, and reliable. They need to know that difficult issues will be raised when necessary and that insights will be delivered consistently over time.
Dawn Earp perhaps summarised it best when she reflected on the three factors that matter most to Internal Audit:
“Reputation. Reputation. Reputation.”
For Chief Audit Executives, reputation is not built through a single report or audit cycle. It is built over time through consistent delivery, sound judgement, professional integrity, and a demonstrated understanding of the business.
Speaking the Language of the Board
The panel also offered practical advice on communication.
Board members and executives operate in an environment of competing priorities, limited time, and complex decisions. Internal Audit therefore creates greater value when it communicates clearly, concisely, and in language that resonates with decision-makers.
The discussion highlighted the importance of focusing on what matters most: organisational impact, strategic implications, emerging risks, and management responses. Simplifying technical concepts does not reduce their importance; rather, it increases the likelihood that governance structures will understand and act upon them.
In many respects, effective communication has become one of the defining skills of successful Chief Audit Executives.
Final Reflection
A clear takeaway from the Bagaka Group x NRF 2026 CAE Leadership Forum is that boards are asking more from Internal Audit than ever before.
They expect Internal Audit functions to understand the business, anticipate risks, communicate effectively, embrace technology, and contribute to governance and organisational performance. They expect insight, not simply findings. Most importantly, they expect advisers they can trust.
The profession already has a seat at the table.
The real question is whether Internal Audit is using that seat to influence decisions, strengthen governance, and create lasting organisational value.
Watch the Full Panel Discussion
Watch the discussion from the Bagaka Group x NRF 2026 Chief Audit Executives Leadership Forum:
https://youtu.be/lItMCKiAX70?si=B5MjEl5P5-G9ogQe
Featuring:
- Dawn Earp
- Thoko May
- Moses Mbedhli
The panel explores board expectations, governance, emerging risks, Internal Audit independence, technology, credibility, and what it takes for Internal Audit to become a trusted strategic partner.
