Internal Audit Insights

2020-06-09 09:55:52

Is Your Audit Agile Enough?

By David Duke, PsyD

June 09, 2020

Across all industries, COVID-19 has tested our capacity to respond quickly and effectively to seismic changes in economic, social, and professional life. But while the cause of these challenges is unprecedented, the need for a nimble response is not new.

2020-04-26 05:00:00

Five Elements of an Effective Audit Planning Process

By Wade Brylow

April 26, 2020

After 25 years in internal audit, I have come to the conclusion that excellent audit planning is essential to ensuring an effective audit. What is a successful audit? A good measure is whether both audit management and the auditee feel good about the end results.

2020-03-16 11:14:06

Five Internal Audit Imperatives for Handling the Coronavirus Pandemic

By Joseph McCafferty

March 16, 2020

As the situation regarding the coronavirus continues to deteriorate, organizations face supply chain disruptions, the challenge of employees working from home, and plunging demand for many products and services. Internal audit can position itself as part of the solution by tackling these five critical to-dos.

2020-02-10 13:16:04

Ten Things Every New Internal Auditor Should Know

By Iffa Munir

February 10, 2020

As a newly appointed internal auditor, you might find yourself a bit lost. It’s not an easy job, and working with experienced colleagues might be a little intimidating. There is so much to learn. Here are ten basic things that as a new auditor you should expect to follow when that first assignment comes your way.

2020-02-03 11:07:25

Embracing Change: New Strategies for New Challenges

By Joseph McCafferty

February 03, 2020

It’s becoming clear to most internal auditors that the profession is changing very rapidly. The strategies that have worked in the past will no longer be enough to carry out internal audit’s new mandate. To meet these challenges, internal audit must improve on three major fronts: innovation, new technology, and talent management.

2020-01-13 13:04:08

How Internal Audit Can Help Remove Inefficiencies from Tech-based Processes

By Mark Abrams

January 13, 2020

Tech-based processes can often seem like black boxes that are too complex for process improvement. It doesn’t have to be that way. In fact, there’s a lot of waste and inefficiency that gets built-in along the way, and internal audit can play a big role in identifying and eliminating it.

2019-11-25 13:12:42

What Internal Auditors Need to Know About Blockchain

By Joseph McCafferty

November 25, 2019

Companies are rapidly finding applications for blockchain technology, meaning internal auditors will need to assess those applications. To do so will require some foundational knowledge of how blockchain works and the risks associated with its use.

2019-11-11 13:13:25

How to Take Your Data Analytics Program to the Next Level

By Joseph McCafferty

November 11, 2019

Internal audit departments that pursue data analytics without fear will soon be expanding their capabilities and unlocking the powerful potential of what it can do.

2019-10-28 10:18:48

The Evolution of HR Audits

By Ronald Adler

October 28, 2019

HR audits have evolved from a simple checklist of dos and don’ts or periodic affirmative action plans to a comprehensive, sustainable process that is an integral part of the organization’s internal controls, due diligence, and risk management function.

2019-10-14 11:26:42

How Internal Audit Can Leverage Resources to Gain Needed Skills

By Joseph McCafferty

October 14, 2019

Internal audit leaders must be more resourceful in acquiring needed skills and capabilities to conduct audits in areas of emerging risk and new technologies.

2019-09-30 14:55:09

How Internal Audit Can Cultivate a Culture of Innovation

By Joseph McCafferty

September 30, 2019

Many internal audit departments are struggling to keep up with fast-moving technologies and widespread change in the profession. Staying on track will require more than adopting new technology, it will involve adopting a new mindset.

2019-09-16 08:21:53

Drawing the Lines: What’s Wrong with the 3LoD Model?

By Joseph McCafferty

September 16, 2019

Where, exactly, does responsibility lie in a modern corporation for ensuring that risks are being identified and managed?

2019-07-30 05:47:50

Adding Value by Using a More Proactive Approach to Internal Auditing

By Hernan Murdock

July 30, 2019

Traditionally, internal auditing was done retroactively. While our methodology has relied on this practice and it has been used widely for a long time, one of the issues with this after-the-event approach is that the actions have already occurred. It is based on auditors focusing on issue detection.

2019-07-02 05:50:41

Nine Essential Skills for Internal Audit Success

By Hernan Murdock

July 02, 2019

Those entering the internal audit and compliance professions often wonder what they need to do to succeed in their new careers. There is a lot to learn. In fact, the general advice is to become lifelong learners. But there is also the constant pressure from within the department. Here, MISTI's Dr. Hernan Murdock lists nine skills and actions essential for success.

2019-07-02 05:47:18

Seven Key Internal Audit Actions for Success

By Hernan Murdock

July 02, 2019

The work of internal auditors and compliance professionals is filled with frameworks, regulations, and policies and procedures documents that define the path for operational effectiveness. Follow those guidelines, manage risk effectively and the likelihood of success increases. But what about our own success?

2019-04-30 05:10:14

Audit Writer’s Hub: 5 Editing Mistakes You Can Fix Right Now

By Sarah Swanson

April 30, 2019

It’s easy to overlook your own grammar errors. But you’ll be a better writer if you become mindful of your writing and correct your own editing mistakes. Here are five common editing mistakes we all make or might have questions about. Maybe a couple will resonate with you.

2019-04-23 05:15:30

How to Beat Robots When Performing COSO-Based Reviews

By Hernan Murdock

April 23, 2019

Robots are having a growing influence on organizational practices and this dynamic is of great interest to internal auditors and compliance professionals who examine the impact of these technologies on organizational objectives, risks and controls. But they also present a growing concern as the work performed by internal auditors may be replaced by machines.

2019-04-04 05:34:28

Using High-Quality Evidence to Provide Reasonable Assurance

By Hernan Murdock

April 04, 2019

Evidence is something that provides proof and it proves or disproves something. It is presented as verification of the facts at issue and generally includes the testimony of witnesses, and the examination of records, documents, and objects. This feature by MISTI's Dr. Hernan Murdock, examines the qualitative elements to consider when it comes to leveraging high-quality evidence.

2019-04-02 05:25:29

An Expanded View of the Performance Audit Scope

By Hernan Murdock

April 02, 2019

Performance auditing is the review of a program or process, and the systems supporting it, to determine whether it is achieving the primary goals of efficiency, effectiveness, and economy in its use of available resources. These reviews are often done in government and non-profit entities, but they are equally important in the for-profit sector.

2019-03-28 05:58:43

How to Quantify the Economic Costs and Benefits of Controls

By Hernan Murdock

March 28, 2019

To become trusted advisors to management it would help if we spoke the same language they do. While auditors and compliance professionals often talk in terms of controls, and increasingly in terms of risk, managers and business leaders often talk in terms of costs, benefits, revenue, reputation, and market share.

2019-03-14 05:29:14

Co-Establishing the Need: Internal Audit’s Role in Getting Buy-in at the Client Level

By Jill Schiefelbein

March 14, 2019

One of the most overlooked, but essential, elements of the persuasive process is establishing a definite need in your to-be-persuaded-audience’s mind. In other words, how does the client know that they need what you have to offer? Here, we explore the topic.

2019-03-12 05:19:54

The Many Benefits of Rotation Programs

By Hernan Murdock

March 12, 2019

As business processes become more complex, information more widely dispersed, and the risk environment more complicated, the need for internal auditors to adapt to this new environment becomes imperative. This is where rotation programs can really save the day.

2019-02-12 05:29:25

How Internal Audit Can Benefit From the Three Lines of Defense Model

By Hernan Murdock

February 12, 2019

The Three Lines of Defense Model provides a framework to clarify the involvement and alignment of multiple assurance providers acting on behalf of their client organizations. It has become increasingly common to have various risk and control professionals working side by side to help their organizations manage risk and increase the likelihood of achieving strategic and operational goals.

2018-12-27 11:08:49

Internal Audit Insights Top 10 in 2018

By Marcos Colón

December 27, 2018

And just like that, another year has gone by. We've had a blast providing you with insights all throughout the year, covering audit report writing, project management, and coverage on emerging technology. Here we've compiled a list of the most read articles.

2018-12-13 05:18:05

Implementing Your Audit Department’s Top Technological Audit Practices

By Marcos Colón

December 13, 2018

Data analytics is being leveraged more than ever by internal audit departments, but for those that haven't jumped on the bandwagon yet, this interview with CVS Health's head of data analytics explains the benefits, challenges, and misconceptions tied to the technology.

2018-11-27 05:48:42

Preparing for Robotic Process Automation: What Internal Auditors Need to Know

By Ed Williams & Venkatesh Krishnamoorthy

November 27, 2018

RPA, robotics, robots, bots … as internal auditors you have undoubtedly been hearing this terminology tossed around more and more. What exactly is it? Why is it such a hot topic? Here we answer those questions.

2018-11-22 05:27:11

GRC at the Speed of Business

By Marcos Colón

November 22, 2018

Internal Audit Insights catches up with Ford Winslow, CEO of ICE Cybersecurity, to discuss what the “speed of business” has had on GRC controls, and what IT auditors should prepare for.

2018-11-20 05:23:27

How to Use Balanced Scorecards to Measure the Performance of Internal Audit Departments

By Hernan Murdock

November 20, 2018

The balanced scorecard is a system used to make sure business operations are aligned with the organization’s mission, vision, and strategy. Since it uses several measures to determine success, it helps those involved to balance what is achieved with how it is achieved. Here's how.

2018-11-15 05:50:31

How to Create a Fraud Risk Statement for Your Fraud Audit Program

By Leonard Vona

November 15, 2018

There tends to be a fair amount of confusion when it comes to a fraud risk identification approach versus an experience-based approach but here we set out to create a list of universal definitions intended to clarify how and why you might use this approach.

2018-11-13 05:18:04

4 Strategies to Head up Risk Management in your Company

By Sarah Swanson

November 13, 2018

As auditors, we all know that internal audit is uniquely positioned to understand where risks lay within an organization. But sometimes audit doesn’t get the opportunity to communicate the company’s risks to a broader audience. Here, we share a few ideas to help internal audit build bridges between knowing, communicating, and fixing risk in a company.

2018-11-08 05:51:37

Do DevOps and Compliance Go Hand in Hand?

By Marcos Colón

November 08, 2018

IT audit is only beginning to familiarize itself with DevOps as more organizations begin to deploy successful programs. But is it fair to say that DevOps and compliance go hand in hand? In this video interview with Atlassian Risk Futurist Guy Herbert, he gives his take on the topic.

2018-10-30 05:04:50

Balancing the Risks of Today with an Eye on the Risks of Tomorrow

By Alec Arons

October 30, 2018

A great deal has changed over the years when it comes to risk, including the willingness and interest of CAE’s, Audit Committees and Boards to talk about risk. As part of the increase in dialogue relating to risk and risks on the horizon much has been written and discussed. Here, Experis's Alec Arons consolidates that information.

2018-10-23 05:53:55

Using Histograms to Better Understand Data

By Hernan Murdock

October 23, 2018

Histograms are a very powerful tool to analyze data because they show the distribution of a continuous variable in a diagram and their appearance is similar to bar graphs. In this feature article, MISTI's Dr. Hernan Murdock explains how internal auditors can leverage them.

2018-10-18 05:39:10

The IT Audit Checklist for Emerging Risks

By Sarah Swanson

October 18, 2018

Many organizations are still failing to effectively audit areas such as cloud security or even social media. So what areas should you be covering and why? This article answers questions tied to that topic. Here you'll find the top IT risks that consistently vex companies and protect your assets.

2018-10-04 04:34:01

Complex Fraud Scheme: Vendor Overbilling Part 2

By Leonard Vona

October 04, 2018

In this second installment of our two-part series on vendor overbilling, we look at how to use fraud data analytics designed to uncover a complex fraud scheme and the fraud audit procedures designed to provide credible evidence.

2018-10-02 05:47:23

Complex Fraud Scheme: Vendor Overbilling Part 1

By Leonard Vona

October 02, 2018

Fraud expert and MISTI instructor, Leonard Vona, selected a complex corruption scheme and a complex overbilling scheme to illustrate how fraud auditing can detect even the most complex schemes.

2018-09-13 05:27:15

Using Cause and Effect Diagrams to Find the Root Cause of Issues

By Hernan Murdock

September 13, 2018

One of the challenges internal auditors encounter when analyzing a finding is identifying the root cause of the problem. This is where the Cause and Effect Diagram can help. In this featured post, MISTI's Dr. Hernan Murdock explains how and why.

2018-08-30 05:08:40

The Pareto Diagram: A Tool for Internal Audit to Focus on What Matters Most

By Hernan Murdock

August 30, 2018

As internal auditors increase their use of data analytics to better understand process characteristics, isolate issues and perform more accurate root cause analysis, the Pareto Diagram continues to grow as a useful tool for them.

2018-08-23 05:45:28

The Dos and Don'ts of IT GRC in the Cloud

By Marcos Colón

August 23, 2018

IT audit expert Mark Thomas, president of Escoute Consulting, chats with Internal Audit Insights on the impact that cloud migration has had on the business, and shares the major Dos and Don'ts that IT auditors should know about GRC in the cloud.

2018-08-21 05:26:30

How Internal Auditors Can Leverage the Balanced Scorecard

By Hernan Murdock

August 21, 2018

The balanced scorecard is a system used for planning and management to make sure business operations are aligned with the organization’s mission, vision, and strategy. In this featured article, MISTI's Dr. Hernan Murdock explains how you can use it to your advantage.

2018-08-14 05:57:34

Innovation: The New Imperative for Internal Audit

By Terry Hatherell, Deloitte Global Internal Audit Leader

August 14, 2018

As organizations continue to evolve and innovate, new risks arise. Meanwhile, the larger business environment continues to change, often rapidly and in unexpected ways. This places new demands on the internal audit function.

2018-08-09 05:32:43

Internal Audit Data Analysis Using Benford’s Law

By Hernan Murdock

August 09, 2018

Organizations are accumulating large amounts of data and internal auditors are rapidly increasing their mining for, and use of, these sizable data sets. This proliferation of data raises the question of how to extract meaning from it all.

2018-08-02 05:55:30

What Risks Do Blockchain Present the Enterprise?

By Karen Kroll

August 02, 2018

As the number of blockchain implementations continues to grow, internal auditors will need to learn about both the promise and risk this technology offers. So what exactly is blockchain technology and what does it mean to you as an internal auditor? This article answers that question.

2018-07-26 05:33:03

How to Develop a Strong 'Tone at the Top'

By Karen Kroll

July 26, 2018

The value of a strong "tone at the top" cannot be underestimated as it can improve a company's performance. The benefits of a strong tone at the top should be of interest to leaders in all departments within every organization. Here's what you can do to evaluate it.

2018-07-24 05:01:58

Using Scatter Diagrams to Understand Numerical Relationships

By Hernan Murdock

July 24, 2018

Scatter diagrams can help find the answer to many questions. Internal auditors can leverage them to analyze pairs of numerical data and show the relationship between two variables. In this feature write-up, MISTI's Dr. Hernan Murdock highlights their benefits.

2018-07-17 05:53:14

Being Creative While Conducting Internal Audits

By Hernan Murdock

July 17, 2018

Creativity is the use of imagination or original ideas, but it's not that important for internal auditing. Given that reporting rules and regulations are non-negotiable, there is little room for creativity and original ideas, right? Wrong! Here's what you can do to be creative while conducting audits.

2018-07-10 05:52:26

Rotational Auditing and Fishing

By Sarah Swanson

July 10, 2018

Rotational auditing has been a fishing hole for years. The pros and cons have been fished around too. And then fished around some more. Auditors have a way of fishing. But paddling deeper into audit's consulting water, rotational auditing could provide a venue for teaching risk awareness.

2018-07-05 05:51:17

IT Audit Should Consider These Third-Party Risk Traps

By Marcos Colón

July 05, 2018

TalaTek’s Baan Alsinawi provides an update on the state of third-party risk management as it relates to IT auditors and sheds light on the hidden traps they should look out for as it relates to trusted business partners.

2018-06-28 05:44:33

How IT Audit Can Break Down Communication Silos

By Marcos Colón

June 28, 2018

Escoute Consulting President Mark Thomas dives into the topic of communication challenges within the enterprise, why they exist among IT audit and cybersecurity, and the steps you can take to ensure those silos are broken down.

2018-06-26 05:26:47

Using Key Performance and Key Risk Indicators to Provide Timely Assurance

By Hernan Murdock

June 26, 2018

Information drives modern organizations, so it is imperative that metrics be used that give management objective information. In this instructive article by MISTI's Dr. Hernan Murdock, he advises on how internal auditors can do just that.

2018-06-19 05:46:33

Developing Continuous Control Monitoring Procedures Without Losing Independence

By Hernan Murdock

June 19, 2018

When designing continuous auditing procedures, auditors and management must think through what the metrics are, and what thresholds would trigger the auditors’ desire to gain a better understanding of operational issues.

2018-06-14 05:15:21

DevOps: What IT Audit Needs to Know

By Marcos Colón

June 14, 2018

XebiaLabs’ Robert Stroud highlights what it is that IT audit needs to know about DevOps, why they should care, and offers up ways in which they can approach DevOps in a constructive manner that ultimately reduces risk in the organization.

2018-06-12 05:19:17

Audit Writer’s Hub: Spicing Up Mumbling Dump Trucks

By Sarah Swanson

June 12, 2018

In the last Audit Writer’s Hub, we talked about crafting gourmet audit issues, instead of mass-produced, dollar-menu issues. This week, we focus on mumbling words and long-winded sentences.

2018-06-07 05:24:21

How Technology Impacts the Internal Auditor of Today

By Marcos Colón

June 07, 2018

Onspring’s Jason Rohlf discusses how technology has impacted the internal auditor of today, but also offers tips on how auditors can stay ahead of the curve, rather than play catchup.

2018-05-31 05:29:21

Finding IT Help for your Business

By Sarah Swanson

May 31, 2018

According to MISTI’s annual Internal Audit Priorities Report, internal audit leaders are in need of hiring outside assistance for challenges they face surrounding IT security. Here, we share a few tips to help you find the best IT consultant for your needs.

2018-05-29 05:45:39

Why Words, Not Numbers, Are the Internal Auditor’s Most Valuable Currency

By Jill Schiefelbein

May 29, 2018

Numbers and fancy charts are only able to tell part of the story for internal auditors. If you want your reports and your data to come alive for your clients, you need to make your words matter. Words, when it comes to driving action, are your most valuable currency. Here's why.

2018-05-22 05:18:09

How to Audit Whistleblower Programs

By Hernan Murdock

May 22, 2018

The Sarbanes-Oxley Act of 2002 Section 301 requires publicly-traded companies to have a whistleblowing program. But, how do we know if the program is effective? This article should help get you on your way.

2018-05-15 05:35:12

Looking to Improve Your Audit Cycle? Try This

By Karen Kroll

May 15, 2018

To continually operate more efficiently and add greater value to the business, internal audit has to boost its performance throughout each stage of the audit cycle. The guidelines below can help you improve the risk assessment, planning, execution, and reporting stages of the audit cycle.

2018-05-10 05:26:02

How Internal Auditors Can Strategize for the Mundane, Part 2

By Sarah Swanson

May 10, 2018

We recently discussed the intersection of emotional intelligence and strategic intelligence. Here are some more common strategic areas to look at. One of these may be similar to your company, or maybe you have some additional strategic areas too. We’d love to hear about them.

2018-05-08 05:09:36

When Emotional Intelligence Meets Strategic Intelligence for Internal Auditors, Part 1

By Sarah Swanson

May 08, 2018

Infusing an audit with strategic intelligence can be a little uncomfortable. But a little stretch does an auditor (and the company) good. Here, we've provided a few tips to articulate the big picture to your team and your auditee.

2018-04-24 11:40:42

Audit Writer’s Hub: Dollar-Menu Burgers and Grammar Passive Voice and 3 Steps to Fix Your Sentence

By Sarah Swanson

April 24, 2018

Even if you’re a dollar-menu writer now, that does not mean you always will be. Anyone can become a gourmet audit report writer. Over the next few weeks, Audit Writer’s Hub articles will focus on specific writing tips to help you begin crafting your gourmet issues. This week, we look at passive voice.

2018-04-19 16:15:21

7 Areas to Focus on to Improve Your Relationship with Audit Clients

By Karen Kroll

April 19, 2018

Developing a strong working relationship with audit clients goes a long way, but that can be a lot easier said than done. In this post, we examine 7 areas that internal auditors can focus on that will help them improve their relationships with audit clients.

2018-04-17 05:56:27

Essential Steps to Tackling Vendor Risk Management

By Sarah Swanson

April 17, 2018

Internal audit is positioned to help evaluate risk that arises from working with vendors. Here we outline steps for determining which vendors to audit and what to focus on during the audit.

2018-04-12 05:02:57

Audit Writer’s Hub: Tone and the Chicken Little Dilemma

By Sarah Swanson

April 12, 2018

By improving the tone of the audit report, auditors maintained – if not, increased – the integrity of findings and developed better relationships with their clients. Rather than brutal honesty, auditors became humanely honest. Here are four strategies to improve tone in your audit reports.

2018-04-09 06:14:32

How Internal Audit Can Streamline Processes Through RACI Charts

By Hernan Murdock

April 09, 2018

Effective communication, teamwork, and accountability are key ingredients of efficient programs, processes, and projects. Unfortunately, many organizations suffer due to a misunderstanding of who’s responsible for what. Here, Dr. Hernan Murdock details how RACI Charts can help internal auditors overcome these challenges.

2018-04-05 06:13:48

How Internal Audit Can Benefit From Force Field Analysis

By Hernan Murdock

April 05, 2018

Auditors in search of a great decision-making tool to identify the forces for and against a course of action should look no further than Force Field Analysis. In this feature by MISTI's own Dr. Hernan Murdock, he details how internal audit can leverage this technique.

2018-03-20 06:14:18

Audit Writer's Hub: 9 Ways to Take Pride in Your Email

By Sarah Swanson

March 20, 2018

A quick ask on social media about pet peeves in email etiquette unleashed a tirade of email annoyances from friends and acquaintances. The list of email frustrations is enough to make anyone self-conscious, because we’ve all committed email blunders of our own. This week, we review email etiquette for auditors.

2018-03-15 06:12:26

8 Areas of Waste for Internal Auditors

By Hernan Murdock

March 15, 2018

Dr. Hernan Murdock highlights eight areas of waste for internal auditors, and how they can add value to their clients by identifying waste and inefficiency.

2018-03-08 06:05:03

Why Auditing Social Media is Becoming Increasingly Important

By Marcos Colón

March 08, 2018

In this recent video shot at MISTI’s ITAC Conference, INARMA's Jason Claycomb gives his take on the state of auditing social media in the enterprise, and what steps internal auditors can take to monitor the risks associated with the technology.

2018-03-01 18:25:18

How to Leverage Surveys in Internal Audit

By Hernan Murdock

March 01, 2018

Surveys can benefit internal audit when it comes to reviewing intangible topics such as corporate culture, entity-level controls, and an ethical environment. In this feature article, we highlight the critical stages of conducting and designing effective surveys.

2018-02-27 06:05:22

How Audit Can Support the Incident Response Plan

By Sarah Swanson

February 27, 2018

Response plans vary somewhat. But here we'll focus on giving you the best insight on how the internal audit function can provide support for the business's incident response plan. Here's a look at some proven tips that can help you get started.

2018-02-22 06:21:37

Preparing for the Future Class of Internal Auditors

By Marcos Colón

February 22, 2018

In this video interview with Glenn Sumners, Director of LSU's Center for Internal Auditing, he discusses what attracts his students to the internal audit program at LSU, what you can expect from the next crop of internal auditors, and how you can help them adjust to the internal audit department of today.

2018-02-15 06:17:22

Audit Writer's Hub: 7 Steps to Writing Better Root Causes Part 2

By Sarah Swanson

February 15, 2018

Picking up where we left off in part one of this two-part series, here we discuss strategies to determine if findings really need RCA and tips for discussing RCA with the audit client.

2018-02-13 06:27:47

Audit Writer's Hub: 7 Steps to Writing Better Root Causes Part 1

By Sarah Swanson

February 13, 2018

If done well and communicated properly, reporting the root cause can be the glue your report needs to tie findings to the overall health of the company and create significant change for the business. This article provides some strategies to use in writing and communicating root cause in audit findings.

2018-02-08 06:08:52

How Internal Audit Can Get More Information From Flowcharts

By Hernan Murdock

February 08, 2018

Drawing flowcharts can be time-consuming, but internal auditors can gain a wealth of information during and after preparing them. By following these suggestions the benefits will far exceed the costs.

2018-02-06 06:11:49

What COSO’s Revised ERM Framework Means for Internal Audit

By Marcos Colón

February 06, 2018

In this interview featuring Bob Hirth, Chairman at COSO, he sheds light on the recent updates made to the COSO ERM framework, discusses what those changes mean for internal auditors, and advises on how to best leverage the framework.

2018-02-01 06:01:25

Effective Audit Committee Communication: Keys to Success for Internal Auditors

By Ed Williams

February 01, 2018

Few things can derail the audit committee’s perception, confidence, and trust of internal audit faster and more profoundly than ineffective communications to and from the internal audit function.

2018-01-30 06:36:11

Speed up Your Audit Team's Performance with Data Analytics

By Sarah Swanson

January 30, 2018

Given the talents and skills that auditors possess (analyzing data, spotting trends, forming conclusions), auditors are in a perfect position in a company to be part of data analytic innovation. This article proposes a plan to fill in the gaps and implement data analytics in the business.

2018-01-26 06:26:47

An Internal Auditor's Guide to Social Media

By Sarah Swanson

January 26, 2018

Within a communications group, chances are that someone is performing a level of auditing of weekly or monthly online analytics already. But it doesn’t hurt to talk to these people and fill in any gaps you discover. How effective is your social media presence and how do you audit it? This article should get you started on auditing social media within a larger audit.

2018-01-25 06:09:50

The Benefits of Leveraging the CIS Critical Security Controls

By Marcos Colón

January 25, 2018

Technology continues to flood organizations and IT auditors are facing increasing challenges. The Center for Internet Security's Critical Security Controls are intended to help the cause. In this exclusive video interview with Internal Audit Insights, subject matter experts define the controls and discuss their benefits for IT auditors.

2018-01-16 05:20:53

The Secret to Driving Value Through Artificial Intelligence

By Sarah Swanson

January 16, 2018

Rather than robotic humanoids or machines who have become “self-aware,” artificial intelligence might be better described as computer systems that can predict human behavior. For internal audit, it can be a handy tool for specific processes within audit and analyzing overall sets of data with greater accuracy and even predict risk.

2018-01-11 10:53:21

Beyond Root-Cause Analysis: Helping Internal Audit Clients Prevent Mistakes

By Hernan Murdock

January 11, 2018

At times, internal auditors don't explain to their clients that processes should be built to operate error-free. Even when controls detect errors, customers report gaffes, or sheer luck saves the day, these events often cause re-work. Here's what you can do to help your clients prevent mistakes.

2018-01-04 15:57:22

Audit Writer's Hub: 7 Steps to Overhaul Your Audit Report

By Sarah Swanson

January 04, 2018

This article won’t show you exactly how the report should look, but will you give you some of the basics to expunge elements of the old audit report so you can make room for the new audit report.

2017-12-26 06:12:00

Readers Choice: Top 10 Internal Audit Insights of 2017

By Marcos Colón

December 26, 2017

You picked them! Here's a look at the most read articles published on Internal Audit Insights in 2018. From building great audit teams to writing an audit report that gets results, you'll find a unique mix of some engaging content that answers some of your pressing questions.

2017-12-21 05:57:00

How to Manage Outside Audits Performed on Your Organization

By Marcos Colón

December 21, 2017

Raytheon's Thomas Sanglier discusses the positive impact that the internal audit function can make when it comes to handling outside audits, the challenges this task can present, and how to overcome them.

2017-12-12 06:16:01

Audit Writer’s Hub: The Art of Tidying Up Narratives

By Sarah Swanson

December 12, 2017

Today, we’ll be cleaning out the metaphorical “auditor’s closet.” The auditor’s closet comes stashed with a variety of documents that identify, document, record, and communicate specific controls for both you and whoever needs to review these controls in the future.

2017-12-05 05:56:00

5 Critical Social Media Tips for Internal Auditors

By Sarah Swanson

December 05, 2017

If you’re going to audit social media, then develop a method. Kate Mullin, a social engineering expert, shares a formulaic approach to begin thinking like a hacker and doing the reconnaissance a hacker would do so that you can protect your organization.

2017-11-21 06:23:48

Audit Writer’s Hub: Is Your Audit Report written to a flock of Wild Turkeys?

By Sarah Swanson

November 21, 2017

Between varied audiences and modern communication standards (dense information in few words), internal auditors must make sure they’re writing to their end audience.

2017-11-16 06:35:38

How SIPOC Diagrams Can Help Improve Audit Planning and Fieldwork

By Hernan Murdock

November 16, 2017

As internal auditors apply risk-based auditing techniques to their reviews and increase their focus on the needs of customers to achieve organizational aims, it is essential to gain a panoramic understanding of the process. The SIPOC diagram can help.

2017-10-03 06:27:00

How Internal Auditors Can Gain Data Analytics Experience

By Joseph McCafferty

October 03, 2017

Internal auditors with data analytics expertise can earn a premium and weild more influence in internal audit departments, but getting started may take some initiative and a little creativity.

2017-09-21 06:08:23

How to Write an Audit Report That Gets Results

By William Woodington

September 21, 2017

Tips and tools on how to create a robust and useful audit report that gets read.

2017-09-14 06:00:10

5 Steps to Become a Fieldwork Ninja Warrior

By Sarah Swanson

September 14, 2017

Just like a huge obstacle course requires solid preparation, successful fieldwork requires deliberate planning.

2017-08-31 06:25:58

Why Internal Auditors Should Use the 5 Whys Method for Root Cause Analysis

By Hernan Murdock

August 31, 2017

The Five Whys is one of the simplest tools for cause analysis. It is easy to use, and the approach consists of asking “why” multiple items, each of which probes further into the source of the problem.

2017-08-29 06:26:50

Audit Writer’s Hub: Three Editing Tips to Keep Up the Sentence Flow Mojo

By Sarah Swanson

August 29, 2017

Good content is necessary, but ensuring that good content is written well is another experience on its own. Here, we dive into three areas that improve sentence flow: topic sentences, transitions, and filler phrases.

2017-08-15 05:19:04

Audit Writer’s Hub: 6 Strategies that Streamline Audit Issue Writing

By Sarah Swanson

August 15, 2017

An audit issue with too much information – was there ever such a thing? Definitely! If you are deviating from these 6 strategies, you might have a long audit issue that says nothing at all.

2017-06-28 07:02:15

Six Ways Internal Auditors Should Use the 3LOD Model

By Tom O'Reilly

June 28, 2017

The CAE who successfully uses the 3LOD model during important conversations should experience better business relationships and have less resistance to their recommended changes.

2017-06-23 14:30:00

So, Why Are You Still Not Using Data Analytics?

By Dave Coderre

June 23, 2017

Study after study has shown that data analytics is effective and efficient at detecting risk and identifying control weaknesses, non-compliance, and inefficient business processes. So why have some internal audit departments still not embraced it?

2017-04-04 10:07:00

Auditing the Online Marketing Program

By Joseph McCafferty

April 04, 2017

We recently spoke to Dan Tsang, director of internal audit of Expedia, about why companies should audit the digital marketing program and how to get started on such an audit.

2017-02-06 15:30:00

Information Security vs. Cybersecurity: Untangling Misconceptions

By Shawna Flanders

February 06, 2017

Is it historic or historical? Mass or weight? Mean or average? Coke or Pepsi? The items in these pairs are similar to each other and certainly related, but have important distinctions that make them different in how they are defined and applied (or in that last case, enjoyed).

2016-11-22 09:00:00

Finding Solutions for Filling Cybersecurity Skills and Knowledge Gaps

By Joseph McCafferty

November 22, 2016

A new survey out from the Institute of Internal Auditors finds that many internal audit departments either outsource cybersecurity audits, or worse, they don't do them at all.

2016-11-09 09:00:00

Tech Talks: Keynote Addresses for ITAC to Focus on Emerging Technology and Risks

By Joseph McCafferty

November 09, 2016

IT audit experts from such companies as Dropbox, Juniper Networks, Lockheed Martin, and others to address audit conference.

2016-11-03 11:30:00

Focusing IT Audit on Machine Learning Algorithms

By Andrew T. Clark

November 03, 2016

Machine learning algorithms are becoming more commonplace, but what are the risks they could err? Sounds like a job for IT audit.

2016-11-01 11:30:00

How Much Cybersecurity Is Enough?

By Marius Bosman

November 01, 2016

Most companies struggle with how much is enough when it comes to protecting the company's vital data and information.

2016-07-26 11:07:00

Auditing the Incident Response Plan

By Joseph McCafferty

July 26, 2016

No organization is 100 percent safe from hacks, cybercrime, or boneheaded employee actions that can expose the company to data breaches. Most companies have shifted from a purely prevention mindset to one of a risk-based approach to cybersecurity with a robust incident response plan.

2016-07-15 14:20:00

Corporate Reporting in Emerging Markets Failing the Transparency Test

By Joseph McCafferty

July 15, 2016

A new report finds that the majority of large, multinational companies based in emerging markets, including China and Brazil, are falling down on their responsibility to provide transparent corporate reporting.

2016-07-13 12:30:00

A Changing of the Guard at the SEC’s Whistleblower Office

By Joseph McCafferty

July 13, 2016

The first chief of the Securities and Exchange Commission's whistleblower office, Sean McKessy, announced that he is stepping down later this month. Depending on his successor, the office could become more aggressive in spurring whistleblowers to come forward.

2016-06-21 12:00:00

Taking a ‘Healthy Living’ Approach to Cybersecurity

By Matt Kelly

June 21, 2016

Cybersecurity is unlike any other business risk because it isn't a risk at all. It's simply a new manifestation of all the business risks you already have.

2016-05-10 12:30:00

SEC Approves Plan to Identify Engagement Partners

By Joseph McCafferty

May 10, 2016

The Securities and Exchange Commission has approved a plan by the Public Company Accounting Oversight Board to require audit firms to disclose the names of audit engagement partners and to provide more information about other firms that participate in audits.

2016-04-26 12:30:00

SEC Pushes Along on Disclosure Reform

By Joseph McCafferty

April 26, 2016

Earlier this month the Securities and Exchange Commission took the next step in its year’s-long campaign to reform the vast dump of information we collectively call financial disclosure.

2016-02-05 11:07:00

Integrating IT into the Internal Audit Process

By Fred Roth

February 05, 2016

Internal audit leaders looking for a way to improve staff skills and increase audit efficiencies would do well to consider integrated auditing, an approach that can help them on both counts.

2016-02-03 16:07:00

When Controls Do More Harm Than Good

By Joseph McCafferty

February 03, 2016

In this podcast, Joseph McCafferty, head of audit content at the MIS Training Institute, talks with Brian Barnier, a principal at ValueBridge Advisors and an OCEG fellow, about the role of controls in audit and risk management and their limitations.