The movie Forrest Gump is an acclaimed and universally known film. It received 13 Academy Award nominations and took home six Oscars, including Best Picture, Best Actor in a Leading Role, and Best Director. In 2011, the movie was added to the National Film Registry of the Library of Congress Read More
GUEST BLOG As a consultant, I review internal audit departments at multiple financial services organizations each year while conducting Quality Assurance Reviews. While my goal for these reviews is to help the internal audit become more efficient and effective, I also focus on providing reasonable assurance that the departments are Read More
The past year concentrated attention and shone a spotlight on the increasing fragility of organizations. With a complex set of risks manifesting simultaneously, audit committees are prioritizing some of the most serious implications resulting from the ongoing war in Europe and a triple squeeze of supply chain, workforce and inflation Read More
In many ways, 2022 was a year of instability. Many individuals and organizations spent the year trying to put the pandemic, which had dominated every aspect of life in 2020 and 2021, behind them, even while still dealing with its lasting effects. Yet, the dark days that COVID-19 brought failed Read More
GUEST BLOG Editor’s Note: The views expressed by the author do not necessarily reflect the views of Internal Audit 360°, as we seek to bring varied and provocative ideas to our readers. The idea that audit plans should be risk based is so old and widely accepted that we rarely Read More
When we talk about effecting change, internal audit findings and reporting on them can bring needed improvements to the attention of senior management and the board. But if those ideas are never implemented, then what good are they? Audit findings that go unheeded can be demoralizing for internal auditors. When Read More
Evolution is a process of change. In recent years we have seen a significant change in the human resources auditing process, in the value derived from HR auditing, and in the tools that companies are using to audit HR. HR audits have evolved from a simple checklist of dos and Read More
Internal audit leaders may feel like their departments are being stretched thin these days—well, even thinner than usual. New research suggest that internal audit budgets have been cut at many companies, even as the function is facing an expanded workload. The pandemic has exposed new and heightened risks that need Read More
Internal audit spends most of its time assessing various functions and processes across the organization. But how well does it know itself? After all, Aristotle once said, “knowing yourself is the beginning of all wisdom.” Luckily, there is an accepted review process for assessment of internal audit, known as a Read More
The recent evolution of the Three Lines model underscores the idea that internal audit must work to create and protect business value. This requires strategic thinking, especially in this rapidly changing business environment. Whilst change is a factor in every business, some organizations may be going through profound transformation, implying Read More
