Audit failures and the Maritime NZ due diligence prosecution

One extract from the Maritime NZ due diligence prosecution that I’ve posted before – but worth reposting.

I like the emphasis that the audits were configured to inform leadership that, on paper, the “management system looked solid” (emphasis added).

We argued similarly in my published research on auditing – we need to critically interrogate our assumptions.

What do we expect from audits? And are audits actually delivering on those expectations? Have we even configured them to ever be able to deliver those expectations?

Sometimes it’s not just that the audit ‘failed’, it’s that it never could have found those issues to begin with.

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