A new survey of financial executives indicates that corporate America is gearing up for more layoff and belt-tightening. Companies are also putting investments and other spending on hold. The third release of PwC’s COVID-19 CFO Pulse Survey reveals 26 percent of U.S. chief financial officers anticipate layoffs, a marked increase Read More
A new survey of internal audit leaders finds that they are focusing their coronavirus response on assessing the short-term impact of the pandemic (78 percent) and communicating with the board (72 percent). When asked for their initial strategic response to the COVID-19 crisis, chief audit executives and audit directors also Read More
The 2020 Pulse of Internal Audit, a report released this week by the Institute of Internal Auditors reveals serious gaps in internal audit’s coverage, with audit plans deficient in key risk areas, including: Almost one-third of respondents did not include cybersecurity and information technology in their audit plans. More Read More
Ever wonder why incidents of fraud, wrongdoing, and other calamities in various forms continue at organizations year after year, decade after decade, and even seem to be increasing in frequency? Inevitably, after such crises someone asks, “Where were the auditors?” As much as I hate to admit it, the answer Read More
A new survey of top business risks, as identified by chief internal auditors in Europe, has found that companies there are most concerned about cybersecurity and data security, increased regulation, and disruptive technology. The survey of 528 chief internal auditors conducted by a group of eight internal audit professional associations Read More
Businesses today cannot be separated from their digital assets. Data drives every aspect of business, from strategic decisions to tactical operations, and all that data is stored in, accessed by, and transmitted across networked systems. Keeping cyber risks under control is a critical issue for any company. Even small, non-tech-oriented Read More
Alexandra was a young manager in a small audit department of a manufacturing company. Her department was facing time-management issues, as the audit engagements could not adhere to the timeframes included in the annual audit plan, which had been developed in line with the Institute of Internal Auditor’s International Professional Read More
Internal auditors have always had a role to play in the detection and prevention of fraud. A recent paper from the Institute of Internal Auditors (IIA) looks to shed some more light on just what that role is and how internal audit teams can do a better job at fighting Read More
It’s likely that most internal auditors and risk managers can appreciate the expression: “The more things change, they more they stay the same.” That’s because they see it in action all the time. At most companies, for example, the internal audit and risk management capabilities have improved considerably over the Read More
The Center for Audit Quality has published a new report on top technology risks and highlights auditor considerations regarding those risks. The resource “Emerging Technologies, Risk, and the Auditor’s Focus,” is intended to help auditors, audit committees, and management get a better handle on the risks and challenges that come Read More
