Richard Chambers, CIA, CGAP, CCSA, CRMA, QIAL, is president and CEO of The IIA. In his blog, he shares his personal reflections and insights based on his more than 30 years of experience in the internal audit profession.

Auditing the Organizational Culture: A New Frontier for Internal Audit

Posted on Jul 28, 2014

When I think about how the role of internal auditing is evolving, I am struck by the diversity of issues we address. Internal auditors deal with an ever-expanding portfolio of challenges that encompass operational risk, strategic decision-making, compliance, technology vulnerabilities, security threats, fraud prevention and detection, environmental risks, disaster preparedness . . . the list goes on and on.

continue reading...

Creating Awareness with Internal Audit's Stakeholders: Sometimes It Takes "Marketing"

Posted on Jul 21, 2014

At The IIA’s recent International Conference in London, I heard a colleague mention that he absolutely hated explaining internal auditing to non-auditors. “When I have to ‘sell’ people on the internal audit function,” he said, “it feels too much like what a used-car salesman does. It just doesn’t feel professional to me.”

continue reading...

The Dangers to Internal Audit of Donning a "Black Hat"

Posted on Jul 15, 2014

As if we don’t have a tough enough time clarifying to stakeholders what exactly we bring to the table, I am seeing an increasing number of instances in which internal auditors are being asked to assume responsibilities related to corporate investigations.

continue reading...

A Shout Out for Internal Auditing From the Prince of Wales

Posted on Jul 7, 2014

We opened our 73rd annual International Conference in London this morning (July 7) with an inspiring video message from His Royal Highness the Prince of Wales. Certainly, a momentous occasion and a great start for our global audience.

continue reading...

5 Sure Signs You Are Well-Suited For a Career in Internal Auditing

Posted on Jul 3, 2014

Job growth for auditors is projected to outpace overall employment gains over the next decade, according to the U.S. Bureau of Labor Statistics. That makes internal auditing a great option for those entering the workforce or considering a career change. However, picking a job and flourishing in it is about more than opportunity alone. Is the position a right fit for you, and are you the right fit for the company or organization?

continue reading...

Are Organizations and the Media Playing "Fast and Loose" With Headlines About "Internal Audits"?

Posted on Jun 25, 2014

As part of my ongoing engagement in social media, I routinely monitor the media for references to stories involving “internal audit.” The past few weeks it seems that the media has been overrun with headlines involving internal audits. Normally, I would be encouraged with such coverage. However, where recent headlines have been concerned, I suspect the “internal audits” weren’t actually internal audits at all. I believe this happens more often than many people realize, sometimes showing up in the media when internal reports generated by management or “second line-of-defense” oversight functions are mistakenly depicted as “internal audits.” 

continue reading...

5 Things Management is Reluctant to Say to Internal Auditors

Posted on Jun 16, 2014

A few months ago, I wrote about Five Things the Audit Committee Won’t Tell Internal Auditors. Based upon feedback I received from around the world, it appears that many chief audit executives shared my perspectives. While I continue to believe we need to work on communications with our audit committees, that is not the only area in which we face communication challenges. Internal auditors typically have a strong working relationship with management, but managers also don’t always tell us everything we need to hear – and know.

continue reading...

Revenue Recognition: "The Next Big Thing" Is Here. Are You Ready?

Posted on Jun 10, 2014

Every few years, a game-changing event materializes that generates a significant impact on the internal audit profession. Take, for example, the U.S. Sarbanes-Oxley Act of 2002 and similar legislation around the world enacted more than a decade ago. Usually, we immediately recognize the importance of such an event, the risks it creates for our organization, and how it will impact our internal audit functions.

continue reading...

10 Characteristics That Weak Internal Audit Leaders Demonstrate

Posted on Jun 3, 2014

Internal auditors tend to be very good at most managerial tasks. We understand the importance of budgets and schedules, and we believe in developing clear policies and procedures. We undertake regular planning activities, we require periodic performance evaluations, and we institute strict quality-control mechanisms that help ensure the value of our work.

continue reading...

Whose Risk Is It, Anyway? When Management Says ‘No’ to Internal Audit

Posted on May 28, 2014

One of the most frustrating events in my career was one of the first times an internal audit client firmly and repeatedly said “no” to one of my recommendations. It was an important point and I tried to explain my reasoning. Management agreed with the finding, but believed corrective action would be too time consuming and resource intensive. My supervisor also supported me, and we believed the risks of not implementing corrective action would be very high for the enterprise. But neither of us could persuade management to implement the recommendation or even find an acceptable alternative course of action.

continue reading...