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.” 

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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.

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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.

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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.

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