In this fast-changing business world, the role of the internal auditor has become increasingly complex. Today, they face not only traditional challenges of fraud detection and financial accuracy but also the daunting task of navigating a digital world where data reigns supreme. To thrive in this age of disruption, driven Read More
There’s a palpable concern for the future among internal auditors. I wouldn’t quite call it anxiety, but there’s certainly some underlying angst about how the next few years will play out for internal auditors. There’s consternation, for sure, over how things like artificial intelligence, increasing digitalization, the data of everything, Read More
The term “AI washing” has emerged as a major concern in recent years, paralleling the previously established concept of “greenwashing.” Just as greenwashing involves misleading claims about a company’s environmental practices, AI washing involves exaggerating or falsifying the use of artificial intelligence (AI) in products, services, or processes. This poses Read More
GUEST BLOG POST As internal auditors, we provide assurance, advice, and insight on the system of internal controls over the more significant risks to enterprise objectives. Internal controls provide the basis, the foundation, on which management and the board rely as they manage and direct the organization to success. The Read More
You will likely find the characteristic of being a good communicator, including the ability to listen well, on just about any list of the top traits of great internal auditors. Internal auditors are always conducting interviews and asking questions, but the real skill happens after a good question is asked—the Read More
GUEST BLOG POST When I was working at a Big 4 audit firm, we always used to have a clause on our reports that went something like this: “The engagement does not uncover all risks that relate from collusion between employees or with third-parties, that a more extensive review would Read More
GUEST BLOG POST: I am a huge believer, as are most leading internal audit practitioners, in enterprise risk-based auditing. That means that the audit plan is designed to provide assurance, advice, and insight on the more significant sources of risk to the organization and the achievement of its objectives. It Read More
Among the most difficult factors to consider before and during an internal audit is its scope, or the boundaries and objectives of the audit. Set too wide and internal auditors can feel like they are trying to boil the ocean. Set too narrow and it may seem like the audit Read More
GUEST BLOG POST With the rise of artificial intelligence and ChatGPT, sometimes I think that we internal auditors will all soon be out of a job. But then I have a very boring task to do, and I wonder why I can’t just ask a machine to do it! Just Read More
GUEST BLOG POST A few years ago, I was privileged to be a member of the Institute of Internal Auditors’ Relook Task Force. It had a couple of objectives, including reviewing the Definition of Internal Audit (which it decided did not require updating, although we did decide to add a Read More
