Tag: Audit Planning

Tim Berichon

A Q&A with Tim Berichon
CAEs Should Follow a Three-Step Process to Achieve EQA Conformance

On By Gartner

External quality assessment (EQA) has evolved with the new Institute of Internal Auditors (IIA) standards, and chief audit executives must develop a strategic plan to bridge any gaps in conformance. The standards set a more stringent benchmark for audit departments undergoing an EQA. Tim Berichon explained to research and advisory Read More

Internal audit action item follow-up

Some Common Sense on Following Up on Internal Audit Action Items

On By Norman Marks

GUEST BLOG POST There are conflicting views on whether internal audit should follow up on every action item from previous audits. Let me see if I can inject some common sense into the debate. Imagine this is the situation: A year ago, management agreed to a recommendation by internal audit Read More

Internal Audit tech spending to rise

Report: Internal Audit Could Double Tech Spend by 2027

On By Joseph McCafferty

A new report predicts that assurance and compliance functions could double the amount they spend on new technology by 2027. According to the research, issued by Gartner Inc., generative AI, machine learning, and large language models will fuel a surge in spending by compliance, risk management, and internal audit functions. Read More

Collaborative internal audit

Constructing a More Collaborative Internal Audit Team

On By Jesse M. Laseman

GUEST BLOG POST Internal Audit teams today face mounting pressure to address emerging risks, adapt to rapid technological changes, and meet rising regulatory demands, all while demonstrating audit value with limited resources. One way to meet these challenges is through greater collaboration both within the internal audit team and with Read More

What to Look for During an Internal Audit of the Procurement Process

On By Nirpendra Ajmera and Lawrence Ibeleme

As we saw during the supply-chain disruptions that occurred during and directly following the COVID-19 pandemic, procurement is a critical and fundamental component for just about any organization. A well-managed procurement function can move an organization toward success, while a mismanaged one has the potential to cause its downfall. It Read More

internal Audit plan

Basing Internal Audit Plans on the Audit Universe vs. the Risk Universe

On By Norman Marks

GUEST BLOG POST There’s such a huge difference between basing the continuously updated audit plan on an “audit universe” (essentially a comprehensive list of all the potential audit activities that an internal audit function might undertake) and from using a “risk universe” (a comprehensive list of all potential risks that Read More

Internal audit and project assurance

Four Critical Internal Audit Insights for Providing Project Assurance

On By Martin Masson

Internal audit and risk professionals know the frustration of witnessing hundreds of millions of dollars invested in projects, only to see many fall short of their intended business outcomes. According to research from Bent Flyvbjerg, a professor at Said Business School of Oxford University, only 8.5 percent of the 16,000 Read More

Eight Hiring and Retention Mistakes Internal Audit Leaders Make

On By Jonathan Ngah

Internal auditors are in high demand these days. Recruiters and competitors are looking to snatch high-quality talent with the right set of skills and backgrounds. Management understands the value talented internal auditor hires can provide to help them make good and timely decisions, mitigate risks, and meet strategic objectives. That Read More