Risk! Auditors are constantly addressing this four letter word. There are unrelenting attempt to better identify, assess and report risks. However, many auditors tend to allocate audit efforts and resources to and concentrate on negative risk impacts. In the planning phase, risks assessments center around negative outcomes. Audit testing is designed to determine
Risky Business as Usual Read More »
In a recent Harvard Business Review article John Coleman states that “deep, broad reading habits are often a defining characteristic of our greatest leaders and can catalyze insight, innovation, empathy and personal effectiveness”. He also
Internal Audit Leaders Must Be Readers (part 1 of 3) Read More »
Internal Auditing is a profession that is open to quite a few different types of individuals. What I mean by that is, auditors can derive from varied background including accounting, finance, computer science, science, English, literature, biology, chemistry, social services, etc. As a result, it can be difficult to nail down the skills necessary to succeed. The Institute of Internal Auditors (IIA) developed an Internal Auditor
3 Keys to Being a Top Performing Auditor Read More »
Internal Auditors are charged with evaluating control environments and providing solid conclusions on the effectiveness and efficiency of processes. This requires a substantial amount of observation and inquiry. This means we must ask great questions and be effective listeners. Listening, however, is one of the most
As an auditor, sometimes I’m not a good listener Read More »
Social media is a dominate customer engagement tool. It presents great opportunities for organizations. But with these great opportunities come great risks. I recently led a webinar about social media risks, remedies and governance. I believe social media has a huge impact on financial statements, compliance, and reputation. The slide deck below is
Are You Auditing Social Media Risks? Read More »
The phrase “it is better to give than to receive” is applicable to most areas of our lives. Studies have shown that those who participate in volunteer activities live better lives. Further, contrary to popular belief, nice guys do not finish last. Acts of kindness are important to build relationships of trust and respect.
I was fortunate to work with a few experienced professionals early in my career who taught me about the power of genuine kindness. I recall
Small Acts of Kindness Work Wonders with Audit Clients Read More »
I have had the privilege of working for or with some really great Chief Audit Executives over the years. They have taught me many valuable lessons, but one that sticks with me is “Tell them what they need to know.” To take it a little further, this person made me understand that there is nothing to fear as long I operate truthfully and
Are You Telling Audit Clients What They Want To Know OR What They Need To Know? Read More »
Every auditor has or will face situations where clients significantly pushback on audit issues. Internal Auditing is an independent and objective function tasked with evaluating management’s risk identification and mitigation strategies. However, when presenting potentially reportable items to management, that objectivity can sometimes disappear as auditors began vigorously
What to do when audit clients disagree with you! Read More »
Have you ever had audit clients refer you to or suggest (sometime strongly) that you audit specific areas in the organization? What do you think about this? My thoughts have changed over time.
In the past, I believed that audit clients would provide referrals to “throw other units under the bus” or to get us away from their areas of responsibility. You
3 Reasons Internal Audit Clients Refer You to Other Units Read More »
Again…better questions to ask your audit clients
I recently wrote an article titled “What Keeps You Up At Night…Who Cares! 6 Better Questions to Ask Audit Clients”. The major premise stressed the fact that auditors truly need to ask the questions they really want answered. Asking a client “What keeps you up at night” is terrible, for one, because
I still don’t care what keeps you up at night Read More »