It’s no secret that the amount of data that organizations are producing is exploding exponentially. This overload of data can make internal audit coverage ever more challenging given the sheer volumes of data the typical organization generates, especially larger organizations. This problem is often compared to the difficulty of trying Read More
Among the most difficult factors to consider before and during an internal audit is its scope, or the boundaries and objectives of the audit. Set too wide and internal auditors can feel like they are trying to boil the ocean. Set too narrow and it may seem like the audit Read More
Compliance leaders are facing increased pressure to make the most of existing resources due to economic challenges and increased workload and complexity, according to a new report. The study, conducted by research and consulting firm Gartner, identifies three crucial compliance function trends playing out this year: tighter budgets, changing labor Read More
Legal and compliance department investment in governance, risk, and compliance tools will increase 50 percent by 2026, according to research firm Gartner. Assurance leaders are seeking out technology solutions to help them address increasing regulatory attention on executive risk oversight and monitoring. “Recent actions ranging from the U.S. Securities and Read More
Investigators and internal auditors are using a somewhat simple mathematical principle to catch fraudsters. Known as “Benford’s law,” it is the idea that the distribution of digits in multi-digit natural numbers is not random, nor is it equally distributed; instead, it follows a predictable pattern. In the realm of data Read More
A new report finds that companies still haven’t completely mastered SOX compliance. It finds that more than half reported an increase in time spent on SOX, even as they work to add automation to the process. The fourteenth annual Sarbanes-Oxley (SOX) Compliance Survey, conducted by global consulting firm Protiviti, finds Read More
As the saying—attributed to management guru Peter Drucker—goes, “You can’t manage what you don’t measure.” To drive performance, most functions need to measure their operations. In internal audit, some metrics, like the percent of the audit plan completed, often act as a starting point for assessing performance. At the same Read More
Chief audit executives (CAEs) have identified risk orientation, stakeholder management, and team leadership as the top three characteristics of the most effective individuals, according to a survey by Gartner. In April 2023, Gartner surveyed 114 CAEs across 180 areas to identify the most important measures of an effective CAE, and Read More
The Institute of Internal Auditors has announced the approval of Malta and Somalia as new affiliates to its global federation, further extending the IIA’s extensive international reach. The addition of these two new affiliates expands awareness of the internal audit profession in the regions, said the IIA in a statement, Read More
Sponsored Article What to audit… what not to audit. Have you ever wondered how a municipality decides which processes need to be improved, what new services are required or how risks are avoided? One of the ways is through completing an internal audit. At the City of Vaughan, our job Read More
