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
GUEST BLOG POST I recently wrote about an inherent problem with some audit reports. I discussed the fact that some auditors believe they can persuade management with an audit report to take action to correct a deficiency. I pointed out that a report is far less persuasive than a face-to-face Read More
A short while ago, I was talking to an internal audit manager whom I had been helping with her audit of enterprise risk management at her company. Not surprisingly, her team found a great many issues. Communicating her opinion, that the risk management team and related activities were not seen Read More
Are most internal audit reports the right length? For many consumers of audit reports in the executive suite and boardroom, the answer is probably that they’re “too long!” Audit reports may run to extraordinary lengths these days. For example, I recently talked to one organization where they could easily extend Read More
The Federal Accounting Standards Advisory Board issued a standard on Friday regarding accounting and financial reporting for government-owned land and delayed the effective date due to the pandemic. The organization is aiming to provide more consistent accounting methods and reporting for land holdings. Before the FASAB released this statement, federal Read More
As India strives towards a new age of financial transparency and efficiency, fraud and corruption still pose big threats to economic advancement. In an effort to combat this reality, the Ministry of Corporate Affairs will require more disciplined recording of financial transactions by companies, including a detailed edit log of Read More
According to an audit from the Secretary of State, Oregon’s books show the state incorrectly counted billions of dollars in federal funding in 2020, a state government news organization the Center Square reported last week. A total of 14 federal programs incorrectly accounted for $6.4 billion in funds. While 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
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
