A group of bipartisan senators continued the decades long tradition of calling for a clean financial audit from the Department of Defense. In a letter to the Pentagon’s Chief Financial Officer, Michael McCord, the senators called attention to the thousands of outstanding recommendations from internal auditors and the limited progress Read More
As more Americans receive vaccinations and the rate of COVID-19 cases steadily declines, more companies are planning for employees to return to their offices. Even as they do, work promises to look different than it did before many started working from their dining room tables and basements. Perhaps nowhere is Read More
GUEST BLOG Remote internal auditing is largely a product of the pandemic, an invention mothered by necessity as audit teams were forced to work remotely and travel was restricted. It is becoming clear now, though, that they are here to stay. I must admit that not all of us were Read More
As the world economy begins to awaken from an eighteen-month hibernation due to the pandemic, organizations are assessing how to adapt post-pandemic realities. New business operations, changing customer habits, and supply disruptions are three remnants of COVID-19 that can’t be helped by a vaccine. According to a new study, they Read More
The COVID-19 pandemic has affected many aspects of both professional and non-professional life, and its impact on internal audit has been unmistakable. In fact, a recent survey found that more than half of governance, risk management, compliance (GRC), and internal audit professionals say that their workload has increased significantly since Read More
Investors and regulators are pushing for more comprehensive and uniform reporting on environmental, social, and governance (ESG) efforts. Some organizations are even tying incentive compensation metrics to ESG goals. In March, the Securities and Exchange Commission said it would be looking more closely at ESG disclosures and also announced the Read More
May is Internal Audit Awareness Month. To celebrate the occasion, I am sharing my top five best practices for writing good internal audit reports. Internal audit reports are changing rapidly, from a stodgy, long and boring report that is partly there to serve as evidence that you conducted an audit, Read More
GUEST BLOG POST When I became a chief audit executive (CAE) for the first time in 1990, I determined that a risk-based internal audit approach was not sufficient. A risk-based approach focuses on how well management can handle a potentially bad event or situation. It assesses the design and operation Read More
Supporting greater attention on the important issue of sustainability, The Institute of Internal Auditors (IIA) delivered a message to U.S. Securities and Exchange Commission Chair Gary Gensler last week, encouraging uniform climate disclosure by corporations and recognition of the role internal audit plays in providing assurance around complete, accurate, and Read More
The recent hack of the Colonial Pipeline, which has crippled the transmission of fuel in the Southeast United States, serves as a stark and alarming reminder to all businesses of the vulnerability of information systems to security breaches, hacks, and ransomware attacks. Over the last several years, most businesses have Read More
