Where companies may do some variation of a rotational program, perhaps using rotational auditors is an untapped resource in your company. If rotational auditing sounds like something you’d like to try – do it. We put together a few steps to get going in that direction.
Latest Content From MISTI
To have a successful audit outcome, it’s imperative to understand the objective of your audit. Keeping your focus on the end result is imperative.
Internal audit can provide assurance to their board and executive team whether or not a process is in place to manage risks of third parties maintaining critical data, and that third parties have their data protection controls in place.
Internal auditors would fare well-taking inspiration from these iconic Seinfeldisms and keeping the following five ideas in mind to better structure their meetings and help them be more efficient.
Most people think their driving is above average. That’s a statistical impossibility, of course, otherwise it wouldn’t be an average. Still, it’s what they believe and in one study, no fewer than 93% of Americans placed themselves in the top 50% of drivers.
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?
When Woodforest National Bank wanted to test whether employees were properly destroying physical data, it hit on an idea that would require internal auditors to roll up their sleeves and get messy.
According to a recent MISTI survey, internal auditors say their internal audit seniors and managers most lack data analytic skills, understanding of IT auditing concepts, and ability to influence and persuade.
Internal auditor spotlight with Tony Redlinger of IHS Markit: We recently sat down with Tony to talk about the challenges of being an IT auditor, what's next for cybersecurity, integrated auditing, and more.
I went to a client the other day to run a 'Report Writing' course and we discussed “House Style”, including the font choice for audit reports. They were, like many large organisations, very clear on what was and what was not acceptable.
Internal audit leaders continue to fret about hanging on to their top talent. In a recent survey, they ranked staffing concerns, including retention, as among their greatest worries.
I was reading an interesting article the other day about Artificial Intelligence (AI) and cognitive computing. I thought it might be worth sharing some of the thoughts with you in case you had ever contemplated using automation in the compilation of one of your reports.
BP paid more than $25 billion; Volkswagen shelled out $19 billion; Anadarko Petroleum, $5.1 billion; and GlaxoSmithKline ponied up $3.75 billion. No, these aren't prices paid for major acquisitions, they are the penalties these companies paid to resolve environmental, health, and safety issues during the last seven years with a raft of U.S. federal agencies.
One telling sign of a maturing internal audit department is when the CAE proposes audit topics that are organizationally-focused around key projects and initiatives (e.g. evaluating the make-or-buy decision for a material for a key part or performing an assessment of a recent new product introduction) versus a generic audit topic (e.g. payroll or procurement cards).