Using the business model canvas to improve audit processes

The effective functioning of public administration hinges on a robust internal audit system. This study seeks to explore the potential of auditors utilising a business model canvas and its impact on enhancing the value of auditing. The paper employs qualitative methods involving in-depth interviews with 37 internal auditors to reveal that the current communication channel for audit assumptions is inadequate in expediting the audit processes. The study presents a customised business model canvas tailored to suit auditors’ requirements, with proposed alterations in the sequence of the traditional Osterwalder’s Canvas building blocks, incorporating Mission, Impact, and Accountability blocks. These revisions emphasise that auditors are mission-focused and impact-driven on audited organisations and their environment. The utilisation of the business model canvas framework in the audit process has exhibited promising potential in enabling auditors to elucidate audit goals and constraints effectively.

http://dx.doi.org/10.21511/ppm.20(3).2022.12