Internal Audit

The Quest for Internal Audit Talent as Stakeholders Expect More

The Quest for Internal Audit Talent as Stakeholders Expect More

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...

Freight auditing could save your company millions

Freight Invoice Audits: What They Are and Why They Matter

Pricing in the shipping industry is complex, and businesses are often overcharged unintentionally. Freight invoice auditing saves businesses money, lightens the administrative load for the accounts payable department and gathers valuable business intelligence to help companies make more informed decisions, turning it into a necessity for companies with high-volume shipping.

It’s time for a new approach to internal audit

The Opportunity for a New Breed of Entrepreneurial Auditor

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.

The Obsolescence of the Traditional Internal Auditor

The Obsolescence of the Traditional Internal Auditor

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 quality of an audit corresponds directly to its value

Ensuring a High-Quality Audit – Who is Responsible?

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.

a change in PCAOB standards may pose challenges for auditors

How the PCAOB AS #18 Impacts Audit

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 Ultimate Guide to IT Audit Readiness

The Ultimate Guide to IT Audit Readiness

As if the job of an IT manager or leader was not already challenging enough, today’s IT risk and regulatory environment is constantly increasing in complexity. Alongside this, there is an unprecedented proliferation of business devices, systems and data, creating more ever-changing risks. So how to deal with all of this? By combining people, process and technology, you can better manage and reduce IT risks. This eBook outlines 11 key steps to make your risk management and compliance activities work in a way...

Finger pointing at the word "fraud" with a strike-through

Top Tips for Deterring Fraud – A Guide for Audit Committees

Technological advancements have caused an increase in the number of opportunities to commit fraud – and they’ve created innovative new ways to perpetrate and hide it. As a result, there has been an uptick in reported incidents over the past two years and audit committees are facing considerable challenges when dealing with the increase. Paula Loop outlines the role the audit committee can play to help deter fraud.

Prepare to Be Audited: A Lesson and Case Study in Compliance Management

Prepare to Be Audited: A Lesson and Case Study in Compliance Management

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...

Building an Effective Audit Committee

Building an Effective Audit Committee

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.

No Internal Audit Function? Investors Beware!

No Internal Audit Function? Investors Beware!

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.

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