The Institute of Internal Auditors has issued new guidance on auditing social media. The paper, “Auditing Social Media: Adding Value by Improving Governance,” examines internal audit’s involvement in the implementation and evaluation of social media strategy. Audit executives can assess organizational social media capabilities and social media’s role in the business model to establish enterprise-wide policies, assessments, and more. The report is part of the IIA’s Global Knowledge Brief series.
According to the guide, many organizations have incomplete or nonexistent social media strategies. They are reactive rather than proactive, and organizations lack many of the processes needed to successfully manage their social media platform. The “Auditing Social Media” Knowledge Brief covers how internal audit can aid the company in developing an effective social media strategy by:
- Assessing the organization’s social media capabilities.
- Determining the role social media has within the company’s business model.
- Recommending enterprise-wide guidelines and policies.
- Defining and establishing a social media framework.
Audits of the organization’s social media strategy have become more common in recent years, as risks related to social media have increased. “A solid social media strategy, including clear policies, procedures, and crisis management, can be the difference between distinction and extinction,” the IIA said in a press statement on the brief.
The report is available to members of the IIA. 