Investigators and internal auditors are using a somewhat simple mathematical principle to catch fraudsters. Known as “Benford’s law,” it is the idea that the distribution of digits in multi-digit natural numbers is not random, nor is it equally distributed; instead, it follows a predictable pattern. In the realm of data Read More
A new report finds that companies still haven’t completely mastered SOX compliance. It finds that more than half reported an increase in time spent on SOX, even as they work to add automation to the process. The fourteenth annual Sarbanes-Oxley (SOX) Compliance Survey, conducted by global consulting firm Protiviti, finds Read More
As the saying—attributed to management guru Peter Drucker—goes, “You can’t manage what you don’t measure.” To drive performance, most functions need to measure their operations. In internal audit, some metrics, like the percent of the audit plan completed, often act as a starting point for assessing performance. At the same Read More
Chief audit executives (CAEs) have identified risk orientation, stakeholder management, and team leadership as the top three characteristics of the most effective individuals, according to a survey by Gartner. In April 2023, Gartner surveyed 114 CAEs across 180 areas to identify the most important measures of an effective CAE, and Read More
The Institute of Internal Auditors has announced the approval of Malta and Somalia as new affiliates to its global federation, further extending the IIA’s extensive international reach. The addition of these two new affiliates expands awareness of the internal audit profession in the regions, said the IIA in a statement, Read More
Sponsored Article What to audit… what not to audit. Have you ever wondered how a municipality decides which processes need to be improved, what new services are required or how risks are avoided? One of the ways is through completing an internal audit. At the City of Vaughan, our job Read More
GUEST BLOG POST With the rise of artificial intelligence and ChatGPT, sometimes I think that we internal auditors will all soon be out of a job. But then I have a very boring task to do, and I wonder why I can’t just ask a machine to do it! Just Read More
Ethics investigations can be challenging for just about any organization. If done right, an ethics investigation can help you identify wrongdoing and unethical behavior and put a stop to it before your organization pays the price for not maintaining a conducive and compliant work environment. A poorly executed ethics investigation, Read More
Last year, the Institute for Internal Auditors announced some changes it was making to its policies covering requirements for continuing professional education (CPE) credits to maintain certain certifications, including Certified Internal Auditor (CIA) and Certification in Risk Management Assurance (CRMA). Those changes to the Annual Certification Renewal Policy will go Read More
The Institute of Internal Auditors (IIA) announced that it has appointed former Global Board Chair J. Michael Peppers as its new representative to the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Board of Directors. Peppers has over three decades of experience in the profession and currently serves as Read More
