The recent evolution of the Three Lines model underscores the idea that internal audit must work to create and protect business value. This requires strategic thinking, especially in this rapidly changing business environment. Whilst change is a factor in every business, some organizations may be going through profound transformation, implying Read More
Last month, the Securities and Exchange Commission proposed new rules that would require public companies to say much more about their climate-related initiatives. Until now, most environmental, social, and governance disclosures have been voluntary. The SEC proposal has put internal audit functions on alert at the prospect of the biggest Read More
The Institute of Internal Auditors has announced that it is supporting new rules proposed by the Securities and Exchange Commission that would require public companies to say much more about their environmental, social, and governance initiatives. “The Institute of Internal Auditors applauds this week’s release by the U.S. Securities and Read More
A new study finds that organizations are reporting increases in cyber fraud and phishing scams due to rapidly changing work practices as a result of the pandemic. It also found that companies are improving internal controls and providing new resources to internal audit to fight such fraud and they are Read More
A new survey on the state of the internal audit profession finds that companies are slightly investing in internal audit again and working to return to normal on the back end—fingers crossed—of the pandemic. The overall message of the report may well be that only incremental change has come to Read More
Longtime internal auditor for the city of Fort Lauderdale, John Herbst, was abruptly fired from his job last month after initiating an investigation of the city’s chief of police. Now he is firing back by filing a formal compliant under the Whistleblower Act, alleging that he was retaliated against and Read More
A new survey found that two-thirds of organizations have an ESG program in place and another 24 percent have plans to implement one. However, only half (51 percent) of organizations that report on ESG obtain some level of assurance from their internal audit functions. So while companies may be listening Read More
GUEST BLOG: Imagine a world where internal audits were conducted by robots and auditees were also robots. A factual statement by the robot auditor is well received by the robot auditee in a complete, rational, and objective manner. There are no emotions, no ifs, and no buts, no tension. Unfortunately, Read More
The increasing number of organizational failures in government and non-government sectors have resulted in major reforms in corporate governance codes and practices worldwide. The reforms, such as the Sarbanes Oxley Act in 2002 and The Cadbury Report in 1992, focused mainly on enhancing transparency, accountability, and responsibility at various organizational Read More
With technological advancements in the new millennium, internal auditors progressively enhanced the use of laptops, tablets, smartphones, data analytics tools, and web-based cloud applications for performing their in-scope agreed-upon procedures. A very recent emerging technological development that has surfaced for enhancing the effectiveness of the internal audit function is the Read More
