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.
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 […]
Continue Reading
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, […]
Continue Reading
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 […]
Continue Reading
In #ReTechCo2019, one issue had been repeatedly raised by industry veterans. How to ensure that your stores have right kind of SKU as per the regional taste? Goto any kirana stores or any mom & pop stores, you will find items which you generally like. In fact they will also find items which you know […]
Continue Reading
Tips for organisation want to implementing a whistle blower system
Continue Reading
A successful business man was growing old and knew it was time to choose a successor to take over the business. Instead of choosing one of his Directors or his children, he decided to do something different. He called all the young executives in his company together. He said, “It is time for me to […]
Continue Reading
IIA Inc 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. Revised IPPF can be downloaded from IIA. One […]
Continue Reading
Companies are required to create internal control framework to ensure that things are working. Company while creating internal control framework want to have number of control as less as possible to ensure that they don’t get red flagged in reviews. Auditors are required to certify that internal controls are working. Auditors while reviewing controls want to have […]
Continue Reading
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 […]
Continue Reading
Question: How to keep myself updated and about new audit methodologies? Here is what I do to keep myself updated: I am member of few groups on WhatsApp and LinkedIn focusing on Internal Auditing and Risk Management. I take active participation in discussions and offer view/ experience. I try to answer posed at these groups […]
Continue Reading