From supply chain disruptions to cybercrime; from environmental concerns to labor shortages, the list of challenges confronting most companies has evolved quickly and dramatically over the past few years and even months. Such speedy developments are expanding the types of risks many internal audit departments must identify and assess. Given Read More
The aim of internal auditing is to add value and improve organizational operations, assisting companies in achieving their goals. Based on years of practical experience, I believe that clearly defining the specific values of internal auditing is the prerequisite for maximizing its effectiveness. The ten major values that internal auditing Read More
The internal audit profession has come a long way from when I entered it four decades ago. In the 1980s, a time before PCs, canned audit programs were common, as were manual confirmations, “nth item” samples from green bar dot matrix printed computer paper, and huge folders of workpapers secured Read More
Recruitment and hiring strategies for internal audit must evolve to ensure the profession keeps pace with a changing risk environment, according to the results of a new report ‘Fueling the Internal Audit Student Talent Pipeline: Perspectives from Educators and Practitioners’ published by the Internal Audit Foundation. The report finds the Read More
GUEST BLOG POST I believe just about every internal audit executive would agree with me that our independence from management is critical. We need to be able to operate without undue interference from management. That means that they are not able to stop or change our audit reporting, our opinions, Read More
The Institute of Internal Auditors, a global professional association for the internal audit profession, has announced the approval of Cameroon as the latest country to join its global federation, further expanding its international footprint. As an approved institute, Cameroon now has a legal framework to support internal auditors in its Read More
GUEST BLOG POST This may be an odd question to ask, but as a leader of internal audit and risk management it was an important issue for me: Where should internal audit sit in any given organization? While there is so much talk about artificial intelligence, I believe it is Read More
In my role as an internal auditor, navigating the intricacies of risk assessment and control testing sometimes leaves me uncertain about whether I’ve identified a noteworthy observation, encountered an actual problem, or if there’s room for refining our processes. Recently, I discovered a method that has proven invaluable in such Read More
The Institute of Internal Auditors has released a long-awaited update to its Global Internal Audit Standards, which provide a set of principles to guide internal auditors in the course of their work. The new standards impact businesses of all sizes, industries, and geographic regions. The IIA says they were designed Read More
In this fast-changing business world, the role of the internal auditor has become increasingly complex. Today, they face not only traditional challenges of fraud detection and financial accuracy but also the daunting task of navigating a digital world where data reigns supreme. To thrive in this age of disruption, driven Read More
