Watch the video below to learn how UL’s internal audit team leverages technology to deliver the same high level of assurance for this safety company that UL gives to its customers.
As the head of UL’s internal audit function, Nirav Patel leads a global team dedicated to providing value-add assurance for a company that specializes in providing safety certifications for new technologies. In the video below, UL’s internal audit team shares how they effectively coordinate across more than 70 countries to manage enterprise risk while driving organizational value.
UL is a safety certification company whose history stretches back 125 years to the 1893 World’s Columbian Exposition, where they helped provide safety assessments for a brand new technology: lights! While there were no standards at the time, UL has since helped write many scientific standards that define and ensure safety for emerging technologies.
In many ways, UL’s rigorous testing and safety certification process is similar to the assurance internal audit provides to the organization. It will come as no surprise that as a part of a global company that ensures the safety of new and emerging technologies, UL’s internal audit department works to make sure that each facility is meeting or exceeding the company’s safety stance, and that effective operational and financial controls are present throughout the enterprise. By leveraging technology to increase efficiency and reduce the cost of compliance, internal audit at UL has gained more time and resources for activities that add value to the organization — which is ultimately their goal!