Audit Archives - Page 2 of 5 - Corporate Compliance Insights

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4 Ways to Lessen the Burden of a FINRA Audit

Posted by Johanny Olmedo - April 10, 2018

Take These Steps Now to Minimize Risk Later When it comes time for a FINRA audit, financial organizations can spend a significant amount of resources gathering and producing the necessary data. It can be a challenge to do this without damaging the metadata or overlooking privileged items while also ensuring you meet all…

Protiviti’s Annual Internal Audit Capabilities and Needs Report

Posted by Corporate Compliance Insights - March 28, 2018

Global consulting firm Protiviti has recently released results of its annual Internal Audit Capabilities and Needs Survey. Over 1,500 Chief Audit Executives (CAEs) were surveyed globally, the majority representing organizations with more than $1 billion in revenue. According to this year’s survey, utilizing data analytics in the audit process is…

Audit and the Rise of Robotic Process Automation

Posted by Malcolm Murray - March 12, 2018

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 departments will soon confront RPA in many processes previously controlled by humans.…

The New Audit Report Now on the Must-Read List

Posted by Brett Kumm - December 7, 2017

In October, the Securities and Exchange Commission (“SEC”) approved the new auditor reporting standard, proposed by the Public Company Accounting Oversight Board (“PCAOB”). While the standard was implemented to make the auditor’s report more relevant to investors, commenters are concerned that the new requirements may result in a number of…

4 Major Audit Risk Themes for 2018

Posted by Malcolm Murray - December 4, 2017

As Audit teams start thinking about their 2018 plans, being able to identify new trends in emerging risk areas that threaten to disrupt enterprise performance over the next year is critical. This explains 12 risks, connected by four major risk themes, that organizations need to have on their radar and…

Auditors: Your Roadmap Has Arrived

Posted by Charles Soranno - November 28, 2017

The PCAOB inspection process continues to evolve, and it is important that issuers not only prepare for the new areas of emphasis but also continue to focus on areas that the PCAOB emphasized in Staff Inspection Briefs in prior years. Here are the particular areas that PCAOB has marked for…

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The Auditor’s Role in Advancing Communications

Posted by Jim DeLoach - October 26, 2017

Part 3 in a Series Exploring the “Auditor of the Future” In this series, Protiviti’s Jim DeLoach and Brian Christensen have put forth 20 potential ways the Chief Audit Executive or internal audit lead can advance his or her relationship with the audit committee. Parts 1 and 2 focused on…

9 Ways Auditors Deliver Tangible Value

Posted by Jim DeLoach - October 19, 2017

Part 2 in a Series Exploring the “Auditor of the Future” Part 2 of this series from Protiviti’s Jim DeLoach and Brian Christensen discusses several ways auditors can add value to the organization beyond the scope of the audit plan. with co-author Brian Christensen Read Part 1 here. Last week,…

Internal Auditors: Want to Ensure your Value and Relevance? Raise the Bar Within Your Profession

Posted by Jim DeLoach - October 12, 2017

Part 1 in a Series Exploring the “Auditor of the Future” In this first installment, Protiviti’s Jim DeLoach and Brian Christensen discuss the nature of the relationship between the “auditor of the future” and the board of directors with respect specifically to risk – which remains central to the internal audit function.…

How Counsel Relationships Can Increase Scrutiny

Posted by Jessica Nall - October 3, 2017

Rethinking Independence in Internal Investigations Demonstrating and ensuring independence in internal investigations is a critical issue for corporate counsel to consider, especially when facing or anticipating parallel regulatory probes. How to properly do so is a nuanced process: as this piece explores, it is not as simple as the binary…

CIOs: 5 Big Data Operational Changes to Make Now

Posted by David Dingwall - September 14, 2017

Preparing Your Organization for GDPR Compliance The threat of a $24 million fine is enough to make any organization sit up and listen to what changes they must make to adhere to new European Union laws on data protection. But, in preparing for General Data Protection Regulation (GDPR), are U.S.…

Data Analytics Becomes Reality

Posted by Malcolm Murray - July 18, 2017

4 Techniques for Auditors While data analytics in audit has been discussed for more than two decades, most internal audit teams are just beginning to make serious investments to embed analytics in their engagements and processes. Vendors highlight techniques such as predictive and prescriptive analytics; however, it is often unclear what these techniques entail and how they can be applied…