Bharat Petroleum: Redesigning the Internal Audit Organization
In 2014, Bharat Petroleum Corporation Limited (BPCL), a large, government-owned, global, Fortune 500 petroleum refining and marketing company in India, was facing a variety of issues around its audit process. The internal audit department had been facing delays in completion of audits and compliance of recommendations. The executive director and head of the Internal Audit (IA) department believed that performance problems were due to the organization of the department. Changes were needed to the processes, technology, and structure of the department, and he wanted his team to find solutions to put some fundamental changes in place. What changes should be made to IA's processes, staffing, and structure so the company could complete more audits and comply with the recommendations? Noel Machado is affiliated with the Tata Institute of Social Sciences.