Risk Response Done Right

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

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

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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The Audit Love Triangle

There is a joke about the love/hate relationship between auditors and clients.  Auditor: We’re coming to audit you soon. Will you guys be available?  Client: Sure, you know we love you guys!  Auditor: REALLY  Client: Well we hate to see you coming and love to see you going. A client said this to me jokingly[…]More

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The Best Audit is Sometimes the Audit You Never Start

How important is completing the audit plan?  For many audit departments, it is a key performance measurement used to determine the department’s effectiveness.  But wait, I thought the goal of internal audit was to evaluate the operating environment to provide stakeholders with “reasonable assurance” that risk are identified and mitigated to an acceptable level.  So[…]More

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5 Things Great Internal Auditors Do!

Within every profession, there are certain characteristics, traits, and tasks that mark great professionals. Internal auditing is no different.  Professionals can make the transition from good to great by following these 5 steps. Experience the products/services A few years ago, Domino’s pizza did something daring.  Well, not really. They asked customers what they really thought[…]More

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Three Auditors You Should Fire Now

The war for audit talent is very competitive. Finding, developing and retaining talented professionals can be very difficult. Oftentimes, bad auditors remain at organizations because managers are either too lazy or too afraid to develop or let go of slackers. If you are confused about what a slacker looks like, here are three types of auditors you should fire immediately.

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