New Report: SOX Benchmarking from Your Peers
Find out how your SOX and internal control processes compare to your peers in this fifth annual report from the SOX Professionals Group. READ THE REPORT
Internal Audit Still Lags in Use of Data Analytics
GUEST BLOG These are difficult days for many companies. Recent developments, including the economic downturn and other problems stemming from the coronavirus crisis, threaten the very existence of businesses across several industries, from airlines to retail, to manufacturing. With so much uncertainty and disarray, corporate boards and senior executives are Read More
Death of the Audit Report: It’s Time to Reconsider How to Convey Internal Audit Findings
Does anyone really enjoy any aspect of internal audit reports? Raise your virtual hand if you like drafting them, editing them, issuing them, or even reading them? It is likely there are very few, if any, hands raised. Anyone who has authored, edited, or received an audit report would probably Read More
BDO: Boards Increasing Financial Disclosures in 2020
Public companies’ board members are focusing more this year on the communication and transparency of financial reporting and disclosures, the new 2020 Board Pulse Survey from BDO reports. Of the 280 public company board members surveyed, 73 percent say they have increased disclosures around new and emerging risks to their Read More
Austin Audit Finds Employee Stole $1.3 Million in Supplies
The Austin, Texas, Office of the City Auditor uncovered a $1.3 million theft scheme conducted by its former director of libraries, who used his city credit card to purchase printer toner and resell it online, the Austin Monitor reports. The employee also purchased electronics and home goods for his personal Read More
Internal Audit’s Role in Assuring Whistleblower Hotlines Are Effective
When it comes to preventing or detecting fraud, whistleblower hotlines remain among the best protection money can buy. They can also be an important tool for internal auditors to assess fraud risk and provide information that can increase the quality of audits and should be assessed on a regular basis. Read More
Workiva for Audit, Risk, and Compliance
Words just don’t do Workiva justice. See how teams like yours are using different features of the Workiva platform for audit, risk, and compliance. Take a closer look at dashboards, evidence requests, testing, and more. See How it Works >>
Professional Skepticism Essential in Avoiding and Detecting Fraud
Professional skepticism by auditors, finance professionals, and all participants in the financial reporting supply chain is crucial for the deterrence and detection of fraud, a new report from the Anti-Fraud Collaboration says. Organizations must critically assess potential fraud risks and be aware of potential biases that can lead to criminal Read More
Internal Audit Teams Embracing Digital Transformation
Despite global uncertainty, internal audit leaders believe their teams are well-positioned to weather the challenges presented by COVID-19 and help their organizations embrace digital transformation, according to a new report from Protiviti. Organizations whose internal audit functions had already implemented new technologies, tools, and methodologies before the onset of the Read More
Do You Have a Skills Gap? Avoid These Co-Sourcing Pitfalls
Internal audit professional standards require each department to establish a risk-based internal audit plan. When focusing on the highest organizational risks, however, they are often likely to find a gap in the talents and skills needed to execute that plan. Although it may be tempting, ignoring risk-based audit projects when Read More