Risk and Control: Ideas for a better tomorrow
A contrarian view on Risk and Control to make tinkle curiosity leading to creative and critical thinking.
Revenue assurance as a function is dominant in telecommunication industries. However the lessons learnt can be applied in any industry. What is revenue assurance? Revenue assurance is The activity is the use of data quality and process improvement methods that improve profits, revenues and cash flows without influencing demand. – Wikipedia How Internal audit can help an organization […]
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Definition of internal audit , IIA standards, professional organizations preaches internal audit to add value. Internal auditors claim that they always add value. Still organization demand value from internal auditors. What is that internal auditors are not doing to show organisation value added by them? is it a simple case of not measuring and not communicating the value added […]
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Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. – Definition of internal audit. I believe Internal audit has […]
Continue ReadingIn 2018 , one topic has often resonated within professional community Independence of Internal audit. Largely internal audit professionals felt that: There is a lack of support from regulations for internal audit. This lack of support manifests in terms of no specific scope, lack of specific reporting structure, lack of safeguards in case management want […]
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There are three categories of audit clients: Clients who accepts all recommendations Clients who do not accept any recommendations Clients who are balanced who evaluates each recommendations, debate the necessity and offer their own solutions. 1. Clients who accepts all recommendations: An Internal Auditor need to be very careful when he is working with clients who accepts […]
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