Abstract
HIV/AIDS is not only a risk to the world population, it is potentially devastating to individual organisations. According to the King Report on Corporate Governance, as well as other governance reports world-wide, risk management is primarily the responsibility of the board and senior management. The internal auditor however, has a responsibility to assist management with this task. This paper aims to determine whether internal auditors are aware of the potential threat that HIV/AIDS holds for their organisations. If ignorance is found to be widespread, recommendations are made to the Institute of Internal Auditors to make their members aware. If awareness is found to be adequate, the paper aims to determine whether internal auditing departments in various sectors of the South African business community are complying with this responsibility.
Highlights
The internal auditing profession is not new in the business environment, it has undergone major changes over the last few years (Krogstad, Ridley & Rittenberg, 1999: 27; Dittenhofer, 2001: 458)
This study aims to determine whether internal auditors are currently playing a role in the managing of the risk of human immunodeficiency virus (HIV)/acquired immune deficiency syndrome (AIDS) in organisations, and what this role is or should be according to the corporate governance responsibilities of internal auditors
To appreciate the potential role of internal auditors in managing the risk HIV/AIDS poses to organisations, it is first necessary to understand the internal auditing profession and the role of internal auditors in risk management and corporate governance
Summary
The internal auditing profession is not new in the business environment, it has undergone major changes over the last few years (Krogstad, Ridley & Rittenberg, 1999: 27; Dittenhofer, 2001: 458). Various studies have indicated that the management of many organisations are aware of the risk posed by HIV/AIDS to these organisations (UNAIDS, 2000; Barac & Otter, 2001; Deloitte & Touche, 2002; Randall, 2002; Barnett & Whiteside, 2002). It is still uncertain whether internal auditors are supporting management in a consulting capacity in the monitoring and management of HIV/ AIDS, by studying the effect of HIV/AIDS on organisations. The results can be used to develop guidelines for internal auditors to assist them in managing this risk
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