Audit Practices

Internal Audit Talent Management

Internal Auditing is a profession that requires diverse skill sets. For example, there are auditors who specialize in construction, medical billing, pharmaceuticals, and information technology. Additionally, jobs for auditors seem to be fairly plentiful. As a result, hiring, developing, and retaining talented audit professionals can be a challenge. When faced with hiring dilemmas, auditors tend to place the blame on many external factors such as no funding/support or lack of local qualified talent. This may very well be true, however, the real talent problem may be more close to home and directly related to how we search for talent.

Take, for example, most internal

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Are Audit Recommendations Obsolete

Internal auditors are assurance providers charged with evaluating risks and providing stakeholders with reasonable assurance that risks are appropriately identified and treated. This usually begins with a risk assessment, followed by audit planning, which leads to an audit engagement and finally ending with an audit report containing issues that need to be addressed.

By now, we’ve all seen the standard

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Audit Projects without Opinions are Pointless

I am Still amazed by the number of audit functions that produce audit Reports without providing opinions about the control environment. After all, Internal Auditing is an objective assurance function. There is no way one can provide assurance without a formal Concluding opinion.

December 2012. I had the privilege of authoring an article for the IIA magazine titled “‘Your Opinion Matters”. It is presented below in its entirety with permission from the I IA.

The power of opinions has forever changed the way we purch

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Taming audit client tantrums

Most audit clients understand that the purpose of an audit is to perform an independent evaluation of functions to determine if operations are effective and efficient. It is a strenuous process on clients. In many instances, it may not be enjoyable, however, most clients tend to respect the process. Occasionally, there are clients who exhibit behavior that is less than mutually respectful. I have said it before, being audited is just as stressful as auditing. I have personally seen clients scream, curse and toss items. While some clients are simply wired to be difficult (see related article on audit client types), I truly believe that a majority of clients are mature enough to

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