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.

Internal audit and project assurance

Four Critical Internal Audit Insights for Providing Project Assurance

Internal audit and risk professionals know the frustration of witnessing hundreds of millions of dollars invested in projects, only to see many fall short of their intended business outcomes. According to research from Bent Flyvbjerg, a professor at Said Business School of Oxford University, only 8.5 percent of the 16,000 Read More

Business Intelligence Tools

Leveraging Business Intelligence Tools for Risk Analytics in the Financial Sector

In today’s business environment, where risks continuously evolve and market dynamics constantly fluctuate, effective risk management is critical for financial institutions striving for stability and growth. Amidst such a challenging atmosphere, business intelligence (BI) tools have emerged as indispensable assets, revolutionizing the way risk analytics is conducted in the financial Read More

Eight Hiring and Retention Mistakes Internal Audit Leaders Make

Internal auditors are in high demand these days. Recruiters and competitors are looking to snatch high-quality talent with the right set of skills and backgrounds. Management understands the value talented internal auditor hires can provide to help them make good and timely decisions, mitigate risks, and meet strategic objectives. That Read More

Internal Audit's role in finding fraud

Internal Audit’s Increasing Role in Hunting for Fraud

How can internal auditors look for fraud and assess fraud risks while remaining trusted advisors to their audit clients and management? The question is gaining renewed attention, in part because both the new Global Internal Audit Standards from the Institute of Internal Auditors (IIA) and the proposed standards from the Read More

Demystifying AI and Its Algorithms: What Internal Auditors Need to Know

It’s been more than a year since generative artificial intelligence (GenAI) burst onto the scene with mainstream appeal. These new tools have been presented by some as an unstoppable force, upending industries and changing the way people work. Generative AI can have an immense upside for organizations across many corporate Read More

Internal audit report writing

A Guide to Crafting Compelling Internal Audit Reports

Internal audit reports play a crucial role in ensuring organizational governance and driving improvement. However, crafting reports that are clear, concise, and impactful can be a challenging task. This guide equips you with the knowledge and tools necessary to transform your internal audit reports from mere documentation to powerful catalysts Read More

5W1H Method

Improving Internal Audits Using the 5W1H Method

In my role as an internal auditor, navigating the intricacies of risk assessment and control testing sometimes leaves me uncertain about whether I’ve identified a noteworthy observation, encountered an actual problem, or if there’s room for refining our processes. Recently, I discovered a method that has proven invaluable in such Read More