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.

Worst Words Internal auditors use

The Seven Worst Words Internal Auditors Use

Let’s face it. Internal audit still suffers from some rather negative stereotypes. There are plenty of companies or units where internal auditors are not welcomed with open arms. Audit clients may view internal audit with suspicion, expecting a “gotcha” mentality or may feel like they are under surveillance. Sure, it’s Read More

Audit Recommendations that Get Results

Making Internal Audit Recommendations that Get Results

While auditors spend a great deal of time and energy scrutinizing processes, analyzing procedures and transactions, and identifying control weaknesses, the real value we add to organizations resides in our audit recommendations. Management expects auditors to leverage our business knowledge and ability to perform root cause analysis to suggest process Read More

Five ‘Under the Radar’ Areas to Audit that May Not Be on the Audit Plan
Internal Auditors, Use Your ‘Spidey Sense’

As internal auditors, we all have a “spidey sense” of what we should be auditing. Sure, we should, of course, conduct comprehensive risk assessments that drive our audit plan, and many of the usual suspects will end up on that plan: cybersecurity, regulatory compliance, financial reporting, third-party relationships, and you Read More

Soccer and Internal Audit

What Soccer Can Teach Us About Internal Audit and Corporate Governance

Not long ago, I was playing a game of football (which I will reluctantly refer to here by its given name in the United States—“soccer”) with some colleagues in a tournament organized by my company. As we huddled, waiting for the match to begin, our coach remarked, “we won’t find Read More

Internal audit tech Laggard

Why Is Internal Audit Often a Tech Laggard?

While there are some exceptions, let’s face it: internal audit has typically lagged behind on embracing new technologies. Rarely are internal audit departments on the cutting edge of implementing such innovations as artificial intelligence, advanced data analytics, data visualization, robotic process automation, and other emerging technologies. But don’t just take Read More

Internal Audit Follow-up

Don’t Neglect the Internal Audit Follow-Up Process

When we talk about effecting change, internal audit findings and reporting on them can bring needed improvements to the attention of senior management and the board. But if those ideas are never implemented, then what good are they? Audit findings that go unheeded can be demoralizing for internal auditors. When Read More

Auditing incentive plans

Why It’s Time to Put an Incentive Plan Review on Internal Audit’s Plate

If you are like most Americans, your parents or guardians encouraged you to eat all of the food on your plate when you were a child—including the dreaded broccoli, Brussels sprouts, or whatever food you found unpalatable. It’s also likely that your parents incentivized you to eat all your dinner Read More