In the latest Bulletin from global consulting firm, Protiviti, the top agenda items for audit committees to consider in 2017 are outlined, including issues related to enterprise, process and technology, risk and financial reporting.
This report delves into four key elements to building an effective internal audit talent strategy, which includes talent acquisition, mentoring & development, strategic sourcing and performance management. PwC has just published a new paper on the growing talent gaps in the risk management industry -- namely in the internal audit profession -- and what companies can do to bridge the divide. According to another recent PwC study, only 13 percent of Chief Audit Executives (CAEs) believe their teams are very...
In this article, Dan Zitting, Chief Product Officer at ACL, gives an in-depth analysis of the future of the traditional auditor, offers tips for innovation and progress in the industry, gives transformation examples from the field and explains a three-fold mandate for innovation and forward progress in the audit, risk and compliance professions.
As advances in data management and analytics make organizational data more accessible, internal audit must evolve or be rendered irrelevant. In this article, Dan Zitting, a globally recognized leader in data analysis, will illustrate this shift — what it means for internal audit leaders and how to embrace the change through people, process and technology to make internal audit a trusted and sought-after advisor in today's data-centric business environment.
The SEC has recently brought cases against national audit firms for audit failures – the first since 2009. This development signals a shift among regulatory agencies to hold financial gatekeepers more accountable. Candela Solutions’ Ron Kral offers five tips to help firms achieve maximal value from the external audit process.
The Public Company Accounting Oversight Board has introduced a new auditing standard, AS-18, which is likely to present some challenges for companies – and their auditing committees in particular. In short, AS-18 is meant to enable auditors to best handle “related parties,” but this means more work than making basic inquiries. Read on to learn the full impact of the new standard.
The audit preparation process can be long and tedious, as documentation has to be gathered from departments that are unprepared or disinterested in the audit process. Confusion about what is actually required, who needs to provide it and when it must be completed is par for the course. Many people are guaranteed to forget whatever it was that they did to complete the prior request or think it is different from what was previously provided, generating multiple emails to get...
Assembling an audit committee is child's play. Building one that will be maximally effective, however, takes more finesse. And the strategy extends well beyond selecting qualified committee members. What does the charter include? How large is the team? Are they empowered to ask the tough questions? These are all key factors influencing just how effective your audit committee can be.
The trickiest part of investing is determining WHERE to invest. And while a company's financial performance is top of mind for potential investors, it by no means should be the only factor considered. Remember, corporations taken down by scandals crash and burn from what looked like sure financial footing. Those with an internal audit function are less risky investments by far.
The latest findings released today from the anticipated Deloitte and Compliance Week survey demonstrate a tidal shift with modern corporate compliance functions gaining more authority and stronger organizational support for compliance programs.
Today, Internal Audit is in a state of rapid transformation, thanks largely to cloud technologies. IT is rapidly modernizing our data centers from virtualization to software defined data centers so as to build out increasingly sophisticated private clouds.
As companies progress well into the implementation of COSO's 2013 Integrated Framework, it's become clear that the Framework's 17 principles aren't as cut and dried as they initially seemed. The 2nd, 4th, and 13th principles in particular have been problematic for some organizations. Candela Solutions' Ron Kral offers guidance on the issues that have left many auditors scratching their heads.