Much of internal audit’s calendar is filled up with a hectic audit plan that is sometimes more aspirational than realistic. It can be so tightly scheduled with assurance projects that it leaves internal auditors feeling like they have little time to think, never mind strategizing or taking on extra work. Read More
The mission of internal audit has steadily evolved into a cornerstone of modern organizational management. Since the Institute of Internal Auditors (IIA) was founded in 1938, internal audit has progressed from simple financial checks to a structured, disciplined approach that strengthens governance, risk management, and overall control systems. While their Read More
This year, the compliance landscape is shifting on multiple fronts. Seven new U.S. state-level privacy laws are taking effect, the U.S. Department of Health and Human Services is proposing major changes to HIPAA—the most significant since 2013, and the EU AI Act is introducing sweeping new governance requirements for high-risk Read More
An internal audit report can determine whether critical risks are addressed quickly or buried in a backlog of competing priorities. They shape how stakeholders perceive the internal audit function and influence the decisions and remediations that follow an audit. When internal audit reports are clear, well-structured, and actionable, they turn Read More
For decades, internal auditors have quietly upheld the resilience of organizations, helping them navigate risk, compliance, and control. But a decade from now, that quiet assurance will no longer be enough. By 2035, internal auditors are expected to stand as strategic contributors to the success of organizations by shifting from Read More
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
The Sarbanes-Oxley Act of 2002 (SOX) redefined corporate accountability by mandating transparency and oversight in financial reporting. Evaluating internal controls over financial reporting (ICFR) is at the core of SOX compliance, particularly Section 404. Entity-level controls (ELCs) are core to this: enterprise-wide mechanisms that influence governance, risk management, ethics, and Read More
In baseball, a utility player is one of the team’s most valuable assets—an individual who can step into one of several fielding positions during a game to help secure a win. Utility players are valued not only for their varied skills but for their adaptability, resilience, and broad game knowledge, Read More
We all experience it. We all try to avoid it. Yet, inevitably, we all still have to deal with it. The “it?” Tension and disagreement—even outright hostility—while just doing our day-to-day internal audit jobs. As much as we try our best to foster good relationships with everyone in the organization, Read More
Last August, Northern Marine Management India, a shipping company located in Powai, a suburb of Mumbai, India, discovered that it has been the victim of a bold heist. The company kept gold coins that it used to honor employees at their retirements. Depending on their years of service, retiring employees Read More
