Final answer:
To be seen as trusted advisers, internal auditors should contribute to the strategic objectives of an organization. The best way to demonstrate this is by helping to develop an enterprise risk management process, positioning themselves as key strategic resources.
Step-by-step explanation:
To become trusted advisers to management, internal auditors need to demonstrate that they can add value and provide strategic support in addition to their typical audit functions. While providing testing of key controls and performing a post-implementation review are important functions of internal audit, they are more reflective of the traditional role of ensuring compliance and evaluating operational effectiveness post factum. On the other hand, assisting management in developing procedures for accounts payable reflects a more collaborative role but may still be seen as more task-oriented rather than strategic advisory.
The best way for internal audit to demonstrate they are truly a trusted advisor would likely be d. providing guidance and audit resources to develop an enterprise risk management (ERM) process for the organization. This approach involves working with management proactively to identify, assess, manage, and mitigate risks that the organization faces. By aiding in the development of an ERM process, internal auditors can help the organization to develop a strategic framework for managing risks that is aligned with the organization's goals and objectives, thereby positioning themselves as key strategic advisers.