Continuing a long-standing tradition that started in the 1990s, the internal audit community is observing “International Internal Audit Awareness Month” this May. During the month, internal auditors around the world share examples of how the profession provides value to organizations, spotlight the profession’s commitment to good governance and risk management, Read More
GUEST BLOG POST There are conflicting views on whether internal audit should follow up on every action item from previous audits. Let me see if I can inject some common sense into the debate. Imagine this is the situation: A year ago, management agreed to a recommendation by internal audit Read More
GUEST BLOG POST: Having read more than 4,000 internal audit reports over the years, I can honestly say I’ve never read a single one I’d wished was longer. Most of the time, I’m wishing it were over halfway through the so-called “executive summary.” Most internal auditors—and others—drafting audit reports completely Read More
GUEST BLOG POST When I was recently describing my work as an internal auditor to my older brother, a medical doctor, we stumbled upon a striking similarity: both our professions benefit significantly when focusing on Emotional Quotient (EQ) the ability to navigate emotions intelligently—over Intelligence Quotient (IQ), which focuses on 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
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
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
GUEST BLOG POST A chief audit executive once said to me: “Almost every team follows a process. Just because they don’t write it down, doesn’t mean one doesn’t exist.” It was at that moment that I realized that the lack of capability maturity or process rigor doesn’t necessarily mean that Read More
GUEST BLOG POST There’s such a huge difference between basing the continuously updated audit plan on an “audit universe” (essentially a comprehensive list of all the potential audit activities that an internal audit function might undertake) and from using a “risk universe” (a comprehensive list of all potential risks that Read More
