(c) Institute of Chartered Accountants of Scotland. Contact ICAS for permission to reproduce this article., Internal Auditing

Following up internal audit findings

By Alan Simpson CA Part of the role of the internal audit function is to follow up on the agreed management action plan based on the audit recommendations, and the completion timescale for implementing them. This article looks at the purpose and importance of the role of that follow-up process. Why follow up? An important… Read More Following up internal audit findings

(c) Chartered Accountants Ireland. Contact Chartered Accountants Ireland for permission to reproduce this article., Audit and Assurance, Internal Auditing

Internal audit: watchdog or trusted advisor?

The role of internal audit within a business has undergone dramatic changes in recent years, writes Niall May. Internal audit activities are today considered tools for value addition in the forms of assurer, assessor and advisor. It is well recognised by many senior business leaders that internal audit has an increasingly important role in the… Read More Internal audit: watchdog or trusted advisor?

(c) American Institute of Certified Public Accountants. Contact AICPA for permission to reproduce this article., Audit and Assurance, Internal Auditing

“Pervasive” Pressure Challenges Internal Audit’s Objectivity

By Neil Amato Internal pressure is a pervasive threat to the objectivity inherent in internal audit, according to new research. More than half of North American chief audit executives (CAEs) surveyed said they had been directed to omit or modify an important audit finding at least once, and 49% said they had been directed not… Read More “Pervasive” Pressure Challenges Internal Audit’s Objectivity

(c) American Institute of Certified Public Accountants. Contact AICPA for permission to reproduce this article., Internal Auditing

The Effective Internal Auditor: 7 Key Attributes

By Neil Amato As the role of the internal auditor shifts, through regulatory changes or a more volatile economy, so, too, do the skills required to do the job well. The skills shift is demonstrated by what companies expect of the internal audit function. Technical skills are a prerequisite, but those skills alone are not… Read More The Effective Internal Auditor: 7 Key Attributes

(c) South Africa Institute of Chartered Accountants. Contact SAICA for permission to reproduce this article., Audit and Assurance, Internal Auditing

Harnessing the Full Potential of an Internal Audit

By George Cavaleros Internal audit is not a one-size-fits-all function, and typically not everyone in the organisation agrees on what its primary focus should be. If you ask yourself as an audit committee member what you see as internal audit’s primary function—assurance and value protection, strategic focus and value creation, business risk insights and risk… Read More Harnessing the Full Potential of an Internal Audit

(c) American Institute of Certified Public Accountants. Contact AICPA for permission to reproduce this article., Accounting, Audit and Assurance, Internal Auditing

Internal Audit Reporting Line to Chief Executive Gains Steam as US Fed Weighs In

By Ken Tysiac The idea of having the internal audit function report administratively to the CEO may be gaining steam in the United States. The US Federal Reserve has issued guidance to encourage US banks with more than $10 billion in total assets to have their internal audit functions report to the chief executive –… Read More Internal Audit Reporting Line to Chief Executive Gains Steam as US Fed Weighs In