Writing for Inside Higher Ed, Ryan Craig, a managing director at University Ventures, an investment firm focused on the global higher education sector, provided an interesting take on the recent college admissions scandal that unfolded last week. His conclusion? University internal audit functions should be scouring the admissions process for Read More
Guest Blog PostThere’s been no shortage of criticism of the role of internal audit over the years. We’ve heard them all: Those who can’t do, audit; The department of “no;” Corporate America’s hall monitors; and many others. Some have had a tint of validity, but most demonstrate a fundamental misunderstanding Read More
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
As internal audit teams work on their audit plan for 2019, a new report sheds light on where some of the trouble spots are likely to occur for companies, and where internal audit may want to consider focusing its scrutiny and assurance efforts. Last week, technology research firm Gartner issued Read More
The Institute of Internal Auditors has issued a new practice guide to help audit third-party risk management. This latest practice guide informs chief audit executives and their audit teams on how to understand and assess risks related to the use of third-party providers. Risks related to vendors, suppliers, resellers, and Read More
Some talk about opportunity as “the other side of the coin” from risk. One is good and the other bad. That is how COSO views the two words, risk and opportunity. ISO sees them differently, though, defining risk as the effect on objectives. That effect could be positive or harmful. Read More
A new survey of chief audit executives in the United Kingdom finds that more than one in three organizations has yet to do any Brexit scenario planning, despite the impending deadline for the U.K. to leave the EU. According to the Brexit Preparedness Survey, conducted by the Chartered Institute of Read More
Two leaders of BDO’s Nonprofit & Education Advisory Services practice, Ken Eye and Andrea Wilson, recently provided a list of “top 10 challenges keeping internal auditors up at night, and possible remedies to help continue the critical work.”
n the abstract, a rare event is merely a low-likelihood occurrence. In the real world, that dry coinage can translate into significant disruption and far-reaching consequences. A rare event could take the form of a large-scale calamity — a deadly storm, an epidemic, a financial crisis. For a business, the Read More
There’s no debate about the value of using open source software (OSS) when building new business applications—cost, flexibility, quality and ease of use, to name a few—but its use comes with legal obligations and security vulnerabilities that can pose significant risks to organizations. To effectively pre-empt such risks, proactive OSS Read More
