Category: Insight 360°

Longer feature articles by Internal Audit 360 editors or contributors. These typically include reporting and provide a full insight on a given topic or development.

Tim Berichon

A Q&A with Tim Berichon
CAEs Should Follow a Three-Step Process to Achieve EQA Conformance

On By Gartner

External quality assessment (EQA) has evolved with the new Institute of Internal Auditors (IIA) standards, and chief audit executives must develop a strategic plan to bridge any gaps in conformance. The standards set a more stringent benchmark for audit departments undergoing an EQA. Tim Berichon explained to research and advisory Read More

Internal Audit Ethics

Ten Ways to Enhance Ethical Leadership in Internal Audit Departments

On By Jasdeep Gill

Ethics are a crucial component of every organization and are broadly defined as the values and principles that govern and shape behaviours and leadership. According to a recent study by Gallup, only 20 percent of employees surveyed strongly agreed that they trusted the leadership of their organization. Forbes estimates that Read More

Implementing AI in internal audit

CAE Responsibilities in Implementing Artificial Intelligence in Internal Audit

On By Kieran Essex

Every news feed, newspaper, magazine, and even social media feed is inundated with the latest trends purporting to simply demonstrate the ways in which businesses should implement artificial intelligence. There is a wealth of insights within these articles. There is also, however, a failure to grasp that one of the Read More

Using AI in AML programs

Four Strategic Ways AI Can Strengthen Your AML Program

On By David Caruso

Money laundering facilitates crime, threatens our national security, distorts markets, and has a devastating economic and social impact on citizens, according to the U.S. Department of the Treasury. Financial institutions are required to do their part to combat these threats. The Financial Crimes Enforcement Network (FinCEN), a bureau of the Read More

Crafting Memorable Internal Audit Reports with Storytelling Techniques

On By Jesse M. Laseman

One of the most exciting aspects of parenthood is passing down the stories and books that shaped our childhoods. With little effort, we often recall our favorite stories and their memorable plots—like the heartwarming lessons from Charlotte’s Web or the playful risks in The Cat in the Hat. But consider Read More

Compliance

The IIA’s New Global Standards Take Effect

On By IA360 Staff

The Institute of Internal Auditors’ new Global Internal Audit Standards took effect on January 9, ushering in a new era in the practice of internal auditing. The Standards were first released in January of 2024 as part of the broader International Professional Practices Framework Evolution project. They provide a basis for Read More

A Guide to Driving Meaningful Change in Internal Audit Culture

On By Jesse M. Laseman

As we know, internal audit teams can sometimes overlook company culture when identifying areas of risk and concern. A 2023 AuditBoard report, for example, found that 80 percent of the organizations it surveyed do not actively conduct audits or assessments of their culture. This gap may also point to a Read More

Internal audit and cloud computing

What Internal Audit Needs to Know About Cloud Computing

On By Nirpendra “Nick” Ajmera, Abhishek Gangwal, and Mark McEvoy

Cloud computing, of course, is not a recent development. Organizations have been increasingly putting more and more of their sensitive data in the “cloud” for the last several years. More recently, though, many organizations are relying on it almost exclusively for their computing needs, entrusting the cloud not only with Read More

internal audit communication with board and audit committee

Improving Internal Audit’s Communication with the Audit Committee

On By Nirpendra Ajmera, Mark McEvoy, and Megean Ward

A strong relationship between internal audit leaders and the board and audit committee is essential for the department to accomplish its objectives and provide value to the organization. Yet, so many internal audit leaders don’t work at improving communications with the board or make it a point to build strong Read More

What to Look for During an Internal Audit of the Procurement Process

On By Nirpendra Ajmera and Lawrence Ibeleme

As we saw during the supply-chain disruptions that occurred during and directly following the COVID-19 pandemic, procurement is a critical and fundamental component for just about any organization. A well-managed procurement function can move an organization toward success, while a mismanaged one has the potential to cause its downfall. It Read More