A contrarian view on Risk and Control to make tinkle curiosity leading to creative and critical thinking.
I gave a session on Agile Auditing at The Institute of Chartered Accountants of India’s Digital Accounting and Assurance Board (DAAB).DAAB and Information Technology committee of SAFA had organized a session on Agile Auditing. Link to recorded webinar: (You can skip first 36 minutes, to directly jump to presentation.)https://icaitv.com/video.php?vid=959 Key takeaway from the sessions:1. Agile is a […]
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Recently IIA has re-named the Three Lines of Defence Model as Three Lines Model. This is done to recognise that ‘defence’ indicating value protection, which does not justify the value enhancement role played by Internal Audit.
As an Internal Auditors we frown upon the exceptions, whereas exceptions are the risk that any process carry.
Do you think that a process which has the “exception handling process” which enhance the internal control environment?
Find out the answers?
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Many Auditors find it important to plan to acquire skills in using Artificial Intelligence in Internal Audit and Auditing Artificial Intelligence. Institute of Internal Auditors have come out with a useful publication called “Artificial Intelligence, Internal Audit’s Role, and Introducing a New Framework” 2017. It is a three-part publication. You can refer it here: This […]
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I was reading an article in Risk Management Magzine “An Increased Remote Workforce Calls for Increased Cybersecurity Protection”. Though article was offering right advice the approach was not proper. Let me explain. It states “..employees can help protect company confidentiality by: connecting to a corporate network through a VPN (virtual private network); using strong, unique passwords […]
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Reverse Auctions are a good way to reduce cost and enlarge the vendor universe. You need to take some precaution to safeguard the process. #internalaudit #internalaudit #audit #governance #fraud #compliance #internalcontrol #thirdpartyriskmanagement #lessonslearned #transparency #risk #cae #tools4governance #lessons
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Footfall Tracker or footfall counter or people counter is basically a device used to count the footfall (people) within a given area. This area can be as simple as area near door to count the people coming in and going out to as complex as tracking people at various shelf in a shop. Footfall tracker […]
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Recently a Chief Audit Executive had asked me about what are the Internal Audit Standards (IPPF) which are applicable for fraud. Since it was coming from a person whom I respect, I decided to do research before a response can be given. Here is my commentary. 1210 – Proficiency Internal auditors must possess the knowledge, […]
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There is less than cordial relationship between internal audit and management. One of the reasons is management believes that internal audit does not add value, whereas Internal audit believe that management is not adhering to best of the practices and most ethical behavior. However, both believe that they are taking actions in the best interest […]
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Related Party transactions are one of the grayest areas in corporate governance. Yet they are so prevalent. Legislation and regulators have prescribed ways and means to monitor, regulate, approve related party transaction. One of the core principles of corporate governance is the absence of interested party/parties in the discussions where any decisions regarding related party […]
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