Reading Roundup: Internal Audit

It’s time for your 15-minute fix of ideas and insights from the world of internal audit. Explore our curated selection of articles and thought leadership:

What Should Internal Auditors Do When the Empire Strikes Back?

By Richard Chambers (Institute of Internal Auditors)

“On a few occasions in my career, I was blindsided by an irate manager who chose not to negotiate but to escalate a disagreement. A healthy audit resolution process will always afford the option of moving a disagreement to a productive settlement. The ultimate authority on resolution of disagreements should reside with the audit committee. Unfortunately, a few managers choose not to ‘play by the rules,’ opting instead to take their disagreement to either the chief audit executive (CAE), if the disagreement is with the audit team, or the CEO/chief financial officer, if the disagreement is with the CAE. My advice in such instances is to calmly and coolly present our side of the story once the disagreement has been lodged. If we are right, the facts will usually speak for themselves.” Read More >

They’re Still Out There​​

By Mike Jacka (Internal Auditor Magazine)

“The audit department that limits itself to cost savings (not to mention limiting activities to production, inventories, and purchasing processes as in the comment we are discussing) will find itself outsourced quicker than the steno pool. Ask yourself (ask your department, ask your audit department employees, ask your audit department leaders) what internal audit should be providing to its customers. And if the answer does not reflect all or a significant part of what is now included in The IIA’s Mission of Internal Audit, Core Principles for the Professional Practice of Internal Auditing, and Definition of Internal Auditing, then it is time for a big change.” Read More >

An Internal Auditor’s Guide to Social Media

By Sarah Swanson (MIS Training Institute)

“A social media audit reviews what’s working, what’s not working, and what can be improved across your social media channels. Auditing social media helps the company capture what consumers say about a brand, what competitors are doing, and how the brand itself is performing.” Read More >

The 4 Ways Internal Audit Benefits Your Business

By Fowler & Company

“Excuses are rampant as to why an internal audit is not a top priority. Internal audits are often viewed as consequences to inferior performance, but the entire industry is shifting to a more positive light. Internal audits are now crucial tools, offering businesses the opportunity to improve performance and identify problem areas before the organization is affected.” Read More >

5 Ways Internal Audit Can Add More Value

By Jason Rohlf (Onspring)

“The internal audit profession has long called upon itself to add value to the organizations it serves. It’s not just about performing audits, testing controls and issuing reports. Internal audit is expected to use its unique position within the organization to take the collection of individual pieces and parts and build a comprehensive view of the company and provide valuable guidance on the strengths, weaknesses, threats and opportunities that the organization must navigate in order to succeed.” Read More >

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