The Significance of CPEs – Your guide to finding and tracking CPE

Reading Time: 6 minutes There’s nothing more exciting than finally achieving that goal. You know the one. You’ve spent years training for it. Imagine the quarterback leading his team to victory in the Superbowl, or a tennis player finally winning Wimbledon, or a golfer taking the top spot at the Masters.  Well, that’s exactly how my buddy John felt[…]More

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Are You Auditing Risks That Matter – Auditing Risk Before Your Reputation is Ruined

Reading Time: 4 minutes No matter how good your product or service, an organization’s reputation can be ruined with the click of a keyboard. Auditors talk a lot about risk, but I wonder how many of us are actively reviewing items impacting our company’s reputation.  Your Reputation Can Be Ruined with the Click of a Keyboard Several years ago,[…]More

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Internal Auditors Must Rethink Third-Party Providers

Reading Time: 6 minutes Most modern organizations have at least one process that is outsourced or co-sourced to a third-party provider. There are numerous reasons why this may be a good decision. Sometimes there may be non-core functions that third parties perform better. Other times it is more financially feasible to have an outside party perform a function. And[…]More

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The Importance of Audit Workpapers

Reading Time: 2 minutes Internal Audit documentation can become evidence in an investigation at a moment’s notice. Work performed years ago can once again become relevant based on new information. As a result, all audit work papers should be accurate and complete. And while the standards needed to perform an investigation are similar to those for internal audit engagements,[…]More

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Risk Response Done Right

Reading Time: 5 minutes The world is currently facing a pandemic that has the potential to be one of the worst of the century. Our risk management strategies are being put to the test. Some countries have gone into complete lockdown. Companies are requiring workers to work from home. As days pass, each organization and geographic location learns valuable[…]More

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3 Reasons Boards are overconfident

Reading Time: < 1 minute The Institute of Internal Auditors (IIA) recently released a well researched and excellently written report title On Risk 2020: A Guide to Understanding, Aligning, and Optimizing Risk (click the link to download). They surveyed several Board members, Executive Management teams members and Chief Audit Executives. The research revealed that Board members were more confident in[…]More

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The Follow-up Audit Fallacy

Reading Time: 2 minutes You’ve just completed a very complex audit. There were a multiple issues to report. Some issues have easy fixes and others would require a significant amount of time and attention. Management’s action plans are very detailed. They contain concise responses, assign responsible parties for fixing the issues and include due dates. So when audit and[…]More

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How to Deliver Bad News to Audit Clients

Reading Time: 2 minutes Auditors are humble messengers who deliver news to clients. The news is typically an assessment of management’s processes. And let’s be honest, auditors can find something to report in any area, no matter how well controlled the processes. But that does not necessarily mean we should report everything.  Realistically, it does not matter what you[…]More

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