Globally, the cost of the crisis has been enormous. The ensuing recession was the worst the world has seen since the 1930s and the most globally synchronous in history. Almost 28 million jobs disappeared. Output losses to the global economy amounted to at least $ trillion.
Accordingly, internal auditors need to be continually alert to conflicts of interest. It is a situation that calls for delicate professional judgment to promote a win-win situation. Let me close by again emphasizing that by and large our internal audit profession has served the country well.