GUEST BLOG POST There are conflicting views on whether internal audit should follow up on every action item from previous audits. Let me see if I can inject some common sense into the debate. Imagine this is the situation: A year ago, management agreed to a recommendation by internal audit Read More
As expectations rise for both risk management professionals and internal auditors, RIMS, the risk management society, and The Institute for Internal Auditors have entered into an agreement to provide both professional communities with greater access to career-building and program-advancing learning experiences. RIMS and The IIA will offer their respective memberships Read More
Risk management teams can increase their efficiency and drive better risk insight and mitigation by using generative AI tools in five ways, according to Gartner, an IT research and advisory firm. “GenAI offers ERM teams a unique opportunity to expand their capabilities without significant investments,” said Joel Backaler, Director Analyst Read More
Digital disruption and climate change have emerged as the two fasting-growing risk areas for organizations across industries, according to a new report. Based on feedback from more than 3,500 internal audit leaders around the world, global risk levels for digital disruption and climate change are projected to increase 20 percent Read More
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
A new survey finds that boards and CFOs are asking internal audit to take on more risk related work. The study revealed that these expanding expectations are coming at a time when internal audit has limited bandwidth for advisory-related services — and increasing risk demand and insufficient risk management capacity Read More
How can internal auditors look for fraud and assess fraud risks while remaining trusted advisors to their audit clients and management? The question is gaining renewed attention, in part because both the new Global Internal Audit Standards from the Institute of Internal Auditors (IIA) and the proposed standards from the Read More
[Dropcap]The rapid growth and adoption of generative AI (GenAI) has resulted in a scramble to provide internal audit coverage over potential risks arising from use of the technology, according to a survey by Gartner. Gartner surveyed 102 chief audit executives (CAEs) to rate the importance of providing assurance over 35 Read More
In recent times it seems that a corporate scandal is now an everyday occurrence and something which is far too frequent. The causes of a corporate scandal are also far too predictable: failures in corporate governance, poor risk management, compliance failures, unreliable intelligence, inadequate security, insufficient resilience, ineffective controls, and Read More
It’s been more than a year since generative artificial intelligence (GenAI) burst onto the scene with mainstream appeal. These new tools have been presented by some as an unstoppable force, upending industries and changing the way people work. Generative AI can have an immense upside for organizations across many corporate Read More
