Audit
Preparing Your Documents to Survive an Audit
3 Tips to Help Organizations Come Out on Top "Compliance audit" is one of the last things a financial advisory firm hopes to hear, but it’s an inevitable, unavoidable fact of life for most. Fortunately, there are steps financial advisory firms can take to mitigate the requisite time and work of an audit, while paving the way to a successful outcome. Nuance’s Stacy Leidwinger discusses. The words "compliance audit" tend to strike fear and anxiety in even the most reputable,...
The Secret Reason You’re About to Fail Your IT Audit
Turning a Key Vulnerability into a Victory No matter what an organization’s major market is, it is probably subject to regulatory compliance requirements, such as PCI, SOX, FISMA and HIPAA. Failing to comply with any of these requirements could result in a failed audit, which can incur hefty penalties. This article by Markku Rossi of SSH.COM shares one little-known reason why organizations are vulnerable to failing a compliance audit. No matter your organization’s major market or sector, whether you are...
Best of 2018: Audit and the Rise of Robotic Process Automation
As 2018 draws to a close, we’re taking a look back at some of the most valuable insights our authors have shared. In case you missed it, this is one of the articles our readers couldn’t get enough of this year. Risks Presented in Adopting RPA with co-author Barton Edgerton A large number of organizations are quickly moving to implement robotic process automation (RPA) across a wide variety of corporate functions, ranging from shared services to finance. Most audit...
RPA: First Steps to Greater Internal Audit Efficiency
Why IA Leaders Should Care About Robotic Process Automation Robotic process automation (RPA) is drawing significant interest from Chief Audit Executives and internal audit leaders seeking to learn more about how to use it from a business improvement standpoint, as well as how to audit RPA in their organizations. Protiviti’s Andrew Struthers-Kennedy and Angelo Poulikakos discuss why RPA use remains low among internal audit departments and how organizations can change the tide to save costs and time. with co-author Angelo...
Why 2019 Could Be a Challenging Year for Internal Audit
External Threats Loom Large With 2019 planning on the horizon, audit teams are beginning to consider external factors that threaten to disrupt the success of their organization’s key objectives. Gartner’s Malcolm Murray, Rafael Go and Leslee McKnight analyze 11 key risks, connected by four major risk themes, that can help audit teams more effectively identify risks to their organization and their impact on the audit function and their stakeholders. with co-authors Rafael Go and Leslee McKnight Ongoing favorable macroeconomic conditions...
Advance Preparation for an OCR HIPAA Audit
8 Tips to Implement Now Shane Whitlatch, EVP at FairWarning, outlines the key controls companies should have in place to quickly and confidently respond to an OCR audit should they be selected. The best time to prepare for an audit is before you’re in one. Fortunately, requirements for various regulations are widely available so that there’s no guesswork involved and you can make sure you’re compliant ahead of time. So, you can start preparing for an Office of Civil Rights...
State of Internal Audit 2018
Impact and Opportunities MetricStream’s latest survey on the state of internal audit finds auditors focused on delivering timely insights on key risks, aligning audit planning with business strategy and improving audit processes and operational effectiveness. Manu Gopeendran details the survey’s findings. For years, internal auditors have been the eyes and ears of the enterprise, providing assurance around the efficacy of risk mitigation strategies and controls. But today they are being asked to do more – to go beyond simply protecting...
4 C’s to Increase the Value of Internal Audit
Ensuring the Effectiveness of a Risk-Based Audit Plan Protiviti’s Jim DeLoach explores how to bolster internal audit’s efforts in providing recommendations that are strong, actionable and in keeping with the board’s expectations. We’ve always believed that boards should ensure that their organizations maximize the full potential of internal audit. There are four C’s directors should consider when evaluating the sufficiency of any risk-based audit plan: culture, competitiveness, compliance and cyber. We’re not suggesting they are the only things a board...
90 Percent GDPR-Audit Failure Rates Ahead
(And That’s OK) The penalties for GDPR violations can be ruinous. But do organizations need to worry? Terry Ray suggests that while compliance is necessary, most companies can rest easy. May 25 has come and gone. The European Union's General Data Protection Regulation (GDPR) has gone into effect. The first GDPR lawsuits have already been filed. And the world still turns. GDPR promises to be the furthest-reaching and most complex data-protection regulatory scheme the world has known, for the following...
Transforming IT Audit in the Digital Era
Robotic Process Automation and Other Key Advances A number of technological advances are emerging that, when implemented by IT audit, will upend the traditional approach to IT auditing. Among the advances: robotic process automation, advanced analytics, and process mining. Protiviti’s Andrew Struthers-Kennedy and Ashley Cuevas explore several changes coming to the IT audit function, and how each will increase the department’s business value. with co-author Ashley Cuevas Organizations everywhere are progressing on their digital journeys at a healthy clip. They’re...
Tips to Achieve Consolidated Audit Trail (CAT) Compliance
How to Overcome Technological Roadblocks What a time to work in the GRC field: new technologies are constantly emerging to help companies meet their regulatory obligations. At the same time, many fragmented requirements have piled up over time. Chris Ekonomidis, Head of U.S. Business Consulting at Synechron, discusses the three main hurdles organizations must overcome to ensure Consolidated Audit Trail (CAT) compliance. In order to keep track of the plethora of data generated every day across different trading markets, many...
A Global Look at IT Audit Best Practices
Global consulting firm Protiviti and global business technology professional association ISACA have released their annual report, A Global Look at IT Audit Best Practices. Key findings from the survey of more than 1,300 IT audit and internal audit leaders and professionals include: Privacy/cybersecurity was cited as the top concern for the second year in a row 37% percent of businesses did not address cybersecurity within their audit plans, citing lack of resources as the primary reason Half of all organizations polled have a dedicated IT audit director (or equivalent...
- Eric D. Lyons, et al. April 23, 2019SEC Halts Misappropriation and Fraudulent Securities Offering
- David M. Loflin April 22, 2019SEC Charges Microcap Fraudster with Running a Pump-and-Dump Scheme
- Kimberly Sredich April 19, 2019SEC Charges Kimberly Sredich with Misappropriation Scheme
Corporate Compliance Insights
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