In the wake of a global pandemic, organizations are working to assess potential risks with a renewed urgency, given the disruption and severity that COVID-19 inflicted on businesses and society in general over the past few years. One of those organizations, the World Economic Forum, released its Global Risks Report 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
If you are like most Americans, your parents or guardians encouraged you to eat all of the food on your plate when you were a child—including the dreaded broccoli, Brussels sprouts, or whatever food you found unpalatable. It’s also likely that your parents incentivized you to eat all your dinner 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
A new survey on the state of the internal audit profession finds that companies are slightly investing in internal audit again and working to return to normal on the back end—fingers crossed—of the pandemic. The overall message of the report may well be that only incremental change has come to Read More
GUEST BLOG POST When I became a chief audit executive (CAE) for the first time in 1990, I determined that a risk-based internal audit approach was not sufficient. A risk-based approach focuses on how well management can handle a potentially bad event or situation. It assesses the design and operation Read More
As the vaccination effort continues and hope is spreading that we might be nearing the end of the COVID-19 pandemic, it’s still too early to assess the long-term impact the past year of crisis will have on daily life, the economy, and—as it relates here—the internal audit profession. Now, a Read More
At the start of last year, no one could possibly have predicted how 2020 would play out, and how we all, individuals and organizations alike, would be dealing with one of the most disruptive forces to arise in most of our lifetimes. It’s a safe bet that “pandemic” wasn’t on Read More
GUEST BLOG What is risk appetite? It is defined by COSO as the “amount of risk, on a broad level, an organization is willing to accept in pursuit of value.” Before analyzing that nebulous statement, it is useful to consider why we are even thinking about risk appetite statements. Basically, Read More
