Value Addition by Internal Auditors: Insights on Information Security, Third-Party Management, and Sustainability Assurance

This study examines whether internal auditors add value through their work in information security, third-party management, and sustainability assurance. A survey of 142 internal auditors and 139 key stakeholders in Ghana was complemented with purposive interview involving nine experienced internal auditors with a minimum of ten years of practices and seven stakeholders from management, audit committees, and boards with each having held the role for at least five years. The survey data were analyzed using Partial Least Square structural equation modeling, while interview data were subjected to thematic analysis. The results indicate that the internal audit functions are developing competencies in third-party management and sustainability assurance, with positive perceptions of their value contribution. However, results on the information security were mixed between internal auditors and stakeholders. Interview evidence further suggests that internal audit functions are progressively expanding into emerging areas of assurance. This study is among the first to assess value creation from these specific activities, highlighting the evolving role of internal audit in strengthening organizational governance and accountability.