It’s no secret that companies have been adopting a more data-centric approach to managing risk and compliance and to improving internal audit. They are installing fancy software packages and hiring data analytics experts to help them sift through oceans of valuable data to look for patterns and outliers. But some Read More
Tone at the top is about humanity and not about words like compliance and regulation. It is about doing the right thing and we all know what that is in our hearts. It is about treating people with dignity and respect.
(PHOTO: Commonwealth Bank Branch office, by Maksym Kozlenko, used under CC BY-SA 4.0, Wikimedia Commons) Still reeling from a series of scandals and failures, Australian internal auditors are demanding some changes that would give them more power to obtain information and more independence from management. According to a report in Read More
Good corporate governance doesn’t happen automatically, even when a great board and senior management are in place. Effective corporate governance is the result of several elements and functions coming together, including organizational policies, processes, and cross-functional interactions. And internal audit has an important job to do to ensure those elements Read More
The internal audit profession is changing rapidly these days and the exact role of the auditor is in flux as they seek to retain influence in the organization. The internal audit function’s main objective is to add value to the organization through recommendations and audits, based on a systematic, disciplined Read More
More companies are providing compliance and ethics training for board members in light of the recent string of sexual harassment charges at several organizations and the emergence of the #MeToo campaign, according to a new report. But many companies still provide little or no specific sexual harassment training to directors, Read More
Pizza restaurant chain Papa John’s has hired mega law firm Akin Gump to conduct an independent audit of the company’s programs for diversity and inclusion, as well as the company’s culture. The move comes after the company’s chairman and founder, John Schnatter, resigned earlier this month over allegations that he Read More
Holding people and organizations to account has historically been a case of pinning blame on them for failures they either caused directly or should have been aware of. As a result, organizations should not be surprised if employees are reluctant to embrace a culture of accountability. But Paul Russell, director Read More
Elizabeth Johnstone, the chairman of the ASX Corporate Governance Council in Australia, has a frank message for internal auditors: stop being intimidated by company executives and board members. While Johnstone was addressing risk and governance failures in Australia, including multiple scandals at the Commonwealth Bank of Australia, her words serve Read More
Recent corporate scandals linked to problematic company cultures have led directors to look for ways to better monitor corporate culture, while trying to understand potential cultural risks and address problems before they get out of control. By treating culture risk as part of an integrated process of oversight that addresses Read More
