It started in 2005. I was the director of Sarbanes Oxley and Internal Controls Assurance for a financial institution. As a budding banking professional, I had climbed the ranks and could foresee a future in banking. That is, until the recession. The financial institution was failing. Shortly before it collapsed, I found a job as […]
That Time I was a Terrible Trusted Advisor Read More »
Have you ever read an audit report that contained issues that seemed to ramble on forever with no clear thought process or unnecessary language that expands a simple item into a small booklet? Why do some auditors do this?
The distribution list for audit reports
One of the most Overused and Unnecessary Phrases in Audit Reports Read More »
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
Audit Projects without Opinions are Pointless Read More »
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
Taming audit client tantrums 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 »