The Institute of Internal Auditors’ new Global Internal Audit Standards took effect on January 9, ushering in a new era in the practice of internal auditing. The Standards were first released in January of 2024 as part of the broader International Professional Practices Framework Evolution project. They provide a basis for Read More
As we know, internal audit teams can sometimes overlook company culture when identifying areas of risk and concern. A 2023 AuditBoard report, for example, found that 80 percent of the organizations it surveyed do not actively conduct audits or assessments of their culture. This gap may also point to a Read More
Last year in this very same article, I wrote about what I called, “a palpable concern for the future among internal auditors.” As 2023 was ending and 2024 was beginning, uncertainty and angst ruled the day. We were still shaking off the lasting effects of the COVID-19 pandemic, conflicts in Read More
GUEST BLOG POST Internal audit plays a unique role in the modern organization. While its leader, the chief audit executive, is usually part of the executive team, it is also expected to play an oversight role in assuring that functions and processes are performing as they should. That oversight role Read More
Cloud computing, of course, is not a recent development. Organizations have been increasingly putting more and more of their sensitive data in the “cloud” for the last several years. More recently, though, many organizations are relying on it almost exclusively for their computing needs, entrusting the cloud not only with Read More
GUEST BLOG POST During a recent audit, I encountered a conflict with a senior internal audit team member regarding the finalization of an audit observation. This team member was keen to incorporate insights from a market survey and customer feedback into our report, specifically calling out concerns over the company’s Read More
The Securities and Exchange Commission chairman, Gary Gensler, will step down from his position on January 20, 2025, the SEC announced on Thursday. The move will allow President Elect Trump to replace him at the start of his term. It had been widely expected that Trump would replace Gensler immediately. Read More
A new report predicts that assurance and compliance functions could double the amount they spend on new technology by 2027. According to the research, issued by Gartner Inc., generative AI, machine learning, and large language models will fuel a surge in spending by compliance, risk management, and internal audit functions. Read More
Nursing home operator PACS Group delayed the release of its third-quarter earnings, providing only preliminary results on Wednesday as it carries out an internal audit and cooperates with a federal investigation into its referral and reimbursement practices. Originally scheduled for Nov. 7 after market close, PACS now expects to disclose Read More
GUEST BLOG POST Internal Audit teams today face mounting pressure to address emerging risks, adapt to rapid technological changes, and meet rising regulatory demands, all while demonstrating audit value with limited resources. One way to meet these challenges is through greater collaboration both within the internal audit team and with Read More
