4 ways to do more with less

An IT professional: I have ideas, but management is not giving any budget to secure the IT infrastructure. An Internal Auditors: I want to experiment with data analytics, but management is not giving nay budget to procure data analytics tool. Management: I want to standardize my process documents, however there are more important priorities where […]

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Internal Audit: First line of defense?

Recently I had the honor of moderating a session on “Internal Audit: The first line of defense”. The panel consisted of: A head of internal audit/ CRO A CRO A risk professional and A Risk advisory partner from a big 4. Some of the insights from the session are: Internal Audit is the Third line […]

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1130 – Impairment to Independence or Objectivity

IIA has revised standards on internal auditing. The revised standards become effective from January 2017. One of the new year resolution of Internal auditor should be to update their internal audit practices and procedures, including internal audit charter to reflect the changes done in in the IPPF. See here 1130.A3 – The internal audit activity may […]

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Internal Audit and culture

Recently I participated in a Conference on Internal Audit. One of the recurrent theme across session was “Culture”. How culture of an organisation impacts Internal audit and how an internal auditor can make impacts on the organisation culture to have a right culture. This is my point of view on some of the questions raised. […]

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Role of Internal Audit

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 […]

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