When asked to reflect on the COVID-19 pandemic during on a recent interview on CNBC, Salesforce CEO Marc Benioff remarked, “the business of business can no longer just be business.” Rather, he said, it must be to improve the state of the entire world. What might have been a controversial Read More
As companies look to reopen facilities and make accommodations for operating under the “new normal” of doing business during the coronavirus pandemic, internal audit leaders are assessing the risks and helping their organizations prepare to unlock the doors. Some are still just trying to get their bearings. “I’ve been through Read More
By now, it’s clear to most internal auditors and to those who follow the profession that internal audit is changing very rapidly. The strategies that have worked in the past will no longer be enough to carry out internal audit’s new mandate. Boards and senior management expect internal audit shops Read More
These are strange days. Many of us may feel like we are living out a dystopian movie as we walk around the neighborhood waving to neighbors, but knowing we can’t stop to chat and must keep at least six feet away. Grocery shopping has become an act of courage, and Read More
One of the things we will all remember long after the Coronavirus Crisis is over—apart from the horrible loss of life, of course—is the extended period of everyone working from home. We’ll remember the kids and pets making appearances on Zoom calls, scoping out the items on everyone’s bookshelves in Read More
It’s time for internal auditors to think differently. That’s not a new assertion, precipitated by the challenging times the coronovirus pandemic has wrought; companies have been in period of radical change for some time, and corporate leaders, internal audit experts, indeed internal auditors themselves, have implored the profession to change Read More
For internal auditors, there may be nothing as frustrating as going back to an audit and finding the same deficiencies and problems year after year, audit after audit. It’s not uncommon for process owners and units to ignore audit findings and fail to make the recommended changes or fixes. When Read More
Cyrptocurrencies, like Bitcoin and Ethereum, have their supporters and their naysayers. No matter what you think about the usefulness of these virtual currencies, however, their emergence has given rise to an underlying technology that nearly everyone agrees will be invaluable to the future of finance and accounting: Blockchain. While blockchain Read More
By now, most internal audit shops have at least dipped a toe in the waters of data analytics. They are using data analysis techniques to find outliers in expense reports, to look for suppliers that have suspicious attributes or are at high risk for bribery, and for testing controls and Read More
F or many internal auditors, 2019 was a transitional and eventful year. Most internal audit shops are still coming to grips with some big underlying shifts in internal audit. The biggest trends continue to stem from the acceleration in the use of technology to fulfill internal audit’s objectives. Some other Read More
