Author: Prasant Prusty and Arundhathy Shabu

Auditing AI

AI Is Here, and It Needs Internal Auditing Now More Than Ever

GUEST BLOG POST Artificial Intelligence is no longer a futuristic concept. It’s here, embedded in everything from recruitment software and customer service chatbots to financial forecasting tools and fraud detection systems. But with this unprecedented power comes unprecedented risk. From biased decision-making to data-privacy violations, AI systems are capable of Read More

Entity Level Controls

The Critical Role of Entity-Level Controls in SOX Compliance

The Sarbanes-Oxley Act of 2002 (SOX) redefined corporate accountability by mandating transparency and oversight in financial reporting. Evaluating internal controls over financial reporting (ICFR) is at the core of SOX compliance, particularly Section 404. Entity-level controls (ELCs) are core to this: enterprise-wide mechanisms that influence governance, risk management, ethics, and Read More

Maintenance Needed: Navigating the Chaotic Compliance Highway

Imagine driving on a constantly changing highway: the speed limits and lane directions are shifting and updating, the exit ramps and destinations rerouting, all while you are mid-journey. How do you, the driver, stay on course? You rely on an up-to-the-minute navigation system. You watch for new road signs. And Read More

A Utility Player Mindset: The Power of Rotation Programs in Internal Audit

In baseball, a utility player is one of the team’s most valuable assets—an individual who can step into one of several fielding positions during a game to help secure a win. Utility players are valued not only for their varied skills but for their adaptability, resilience, and broad game knowledge, Read More

Poor Data Readiness Is Plaguing Corporate AI Projects

A new research study finds that nearly half of all artificial intelligence projects fail, underperform, or are delayed, despite major investments in AI. The survey indicates that poor data readiness is the leading roadblock to AI execution, driving increased costs, stalled innovation, and lost revenue. The study was released by Read More

Connected Risk Thinkers

Are You a ‘Connected Risk’ Thinker?

The first months of 2025 have yielded far-reaching geopolitical and macroeconomic upheaval and uncertainty. The only thing that’s clear is that nothing is clear. Organizations, investors, governments, regulators, and consumers worldwide are struggling to navigate a fast-escalating global trade war, constant market variability, ongoing conflicts in Europe and the Middle Read More

Implementing AI in internal audit

ISACA Launches First Advanced AI Audit Certification

Artificial Intelligence literacy tops the list of the 15 fastest-growing skills professionals need to stay competitive in today’s environment, according to a new LinkedIn report. Designed to meet the needs of audit professionals who are facing an evolving tech and compliance landscape with AI at the forefront, ISACA has introduced Read More

efficiency in internal audit

Five Steps to Increase Internal Audit Efficiency

GUEST BLOG POST If you are an internal auditor, you know that time is always in short supply. Between regulatory demands, shifting risks, and the day-to-day responsibilities of maintaining independence and objectivity, finding ways to be more efficient isn’t just helpful, it is essential. At the Audit Library, we work Read More

Guarding assets with simple controls

The Importance of Basic, Yet Effective, Internal Controls

Last August, Northern Marine Management India, a shipping company located in Powai, a suburb of Mumbai, India, discovered that it has been the victim of a bold heist. The company kept gold coins that it used to honor employees at their retirements. Depending on their years of service, retiring employees Read More