The newest release from the Internal Audit Foundation to support high-quality internal audit service delivery is now available. Applying the International Professional Practices Framework (IPPF), addresses the many changes included in the latest version of IPPF, such as a new mission state and the addition of a maturity model and Read More
Robert Rudloff, senior vice president of internal audit at MGM Resorts International, has spent 38 years honing his craft as an internal auditor and leads a 100 person team at the hotel and gaming giant. During that time he has seen rapid change in the profession and has led numerous Read More
Internal audits are becoming increasingly complex. A heavy toll is being demanded by outsourcing, the constant emphasis on controlling costs, the impact of IT, the pursuit of efficiency, the need to find and retain top talent, and changing legislation. Good personnel, with up-to-date knowledge of information security, IT compliance, and Read More
The Center for Audit Quality is offering some guidance to audit committees on how to ensure that senior management is ready to adopt the new lease accounting standards that take effect at the start of next year. Preparing for the Leases Accounting Standard: A Tool for Audit Committees is designed Read More
The city of Atlanta’s internal audit function warned city officials of various cybersecurity vulnerabilities months before a recent ransomware cyberattack that has crippled its IT systems. An internal report detailed how Atlanta’s IT systems could easily come under attack if they weren’t fixed immediately, an internal audit obtained by the CBS Read More
A trio of internal audit studies published recently indicate that internal audit departments in the United States have a big technology problem. Internal audit is generally behind the times when it comes to adopting leading-edge technology, the reports find. The studies shed some needed light—along with some dire warnings—on why Read More
Years back, internal audit sat among the less desirable roles for upwardly mobile financial professionals. Some even considered it the dumping ground of finance, where under-performers were shelved while more promising young hires were put into what they perceived as more exciting positions. Post Enron, of course, the situation changed Read More
Reporting of suspected wrongdoing in organizations has reached a historic high in the United States, but so too have instances of retaliation against those who report violations. Meanwhile, only one in five employees say their company has a strong ethical culture. The percentage of employees who say they have reported Read More
As we contemplate trust and transparency in business against the backdrop of unethical sales practices events over the last year—think Wells Fargo—and the need to prioritize customers’ needs and expectations over the sales journey, the various customer touch points along the value chain come to mind. For many companies, moments Read More
In his latest blog post, internal audit and risk expert, Norman Marks, writes about the need to perform an audit that assesses whether management has a system of internal control that provides reasonable assurance of compliance. “There’s a lot of talk about auditing culture and other significant sources of risk,” Read More
