How to lead an effective internal audit function

INDUSTRY

Expectations for internal audit are high, over 50% of stakeholders feel that internal audit are contributing significant value. To continue becoming trusted advisors, internal audit must promote strong internal audit leadership. Five key qualities are displayed in those who lead a successful internal audit department. Read the full article here.

Read More

Heads of Internal Audit Lack Confidence in Data-Driven Decisions

INDUSTRY

A recent IIA report highlighted than only 29% of senior internal audit managers are confident making data driven decisions. Data mining and analytic tools are extremely important to the audit department’s ability to perform its responsibilities, according to 37% of survey respondents. However, sophistication of data analytic tools and the collection and use of data…

Read More

Cybersecurity Risk Becoming a Fixture in Internal Audit Plans

INDUSTRY

Cyber security has been increasingly included in internal audit plans. When establishing and maintaining an effective cyber security plan, there are two critical success factors – a high level of engagement from the board of directors in identifying risk, including the evaluation of cyber risk in the current audit plan. There are 5 recommended priorities…

Read More

Big data analytics to replace audit tests

INDUSTRY

Big data analytics will soon be available to smaller audit firms, reducing the time spent on audit tests. Audit software capabilities are starting to take big data concepts into an audit market, even in a small company, and change the role of the audit department. Read the full article here

Read More

Conformance to the Standards

INDUSTRY

Organisations that have an EQA performed are given recommendations to improve efficiency and internal audit practice. For organisations that had the EQA performed, overall they conformed to standards, However, there are non-conformance trends in specific standards. Read the top 10 here.

Read More

The top 10 ways to avoid a tax audit

INDUSTRY

It’s the time of year for tax returns, but are you following these ten steps to reduce the likelihood of facing an audit? Being meticulous and thorough can pay dividends when delivering tax statements to the government. Read the full article here.

Read More