GUEST BLOG POST I recently wrote about an inherent problem with some audit reports. I discussed the fact that some auditors believe they can persuade management with an audit report to take action to correct a deficiency. I pointed out that a report is far less persuasive than a face-to-face Read More
Many internal audit shops are adopting Agile project management principles in an attempt to create a more flexible, adaptive, and customer-oriented audit function. And while the results have been promising, expect a few bumps along the way. To be sure, Agile is not a revolution for internal audit, but a Read More
Chinese companies that list on U.S. stock exchanges must reveal whether they are owned or controlled by a government entity, and provide evidence of their auditing inspections, the Securities and Exchange Commission stated this week. The rule advances a process that could lead to more than 200 companies being delisted Read More
As Internal audit leaders go about their work, there are many decisions to make: How to assess risk? What to audit? How to acquire the expertise needed to execute certain audits? What audit technologies to adopt? How to build the internal audit team? And on and on. Sometimes we make Read More
Internal auditors are a rare breed. To perform well in their jobs, they must have a set of skills and characteristics that are typically uncommon in one person. For example, they need to be analytical with laser-like focus, while also being “people-persons” with great communication skills. They need to be Read More
The Securities and Exchange Commission has charged an affiliate of McKinsey & Co. with compliance failures including the misuse of material nonpublic information. The affiliate, MIO Partners, which offers investment options exclusively to current and former McKinsey partners and employees has agreed to pay an $18 million penalty to settle Read More
The Securities and Exchange Commission continues to revamp the Public Company Accounting Oversight Board in the wake of a series of scandals, naming a new chairperson and three new board members. Earlier this week, the SEC named Erica Williams to serve as chair of the PCAOB, which oversees the audits Read More
The ongoing COVID-19 pandemic has created a drain on organizational resources, including in internal audit departments, and unleashed new risks on a global basis. A recent survey finds that internal audit is addressing such challenges by increasing budgets and hiring additional auditors. The survey, conducted by AuditBoard, a cloud-based platform Read More
These days an internal auditor is required to be a jack-of-all-trades. To complete the diverse set of audits that cover every facet of the organization, the internal audit team must collectively possess a vast array of skills that run the gamut from traditional financial talents to marketing, HR, and technology Read More
Legislators in Greece have floated an amendment to legislation that would require internal auditors to register with the Economic Chamber of Greece, a quasi-governmental agency that oversees the professions of economists, accountants, tax professionals, and others. The measure would give the Chamber a greater role in overseeing the internal audit Read More
