A passion for excellence.(REMEMBRANCE)
MUCH OF INTERNAL AUDITOR'S SUCCESS OVER THE LAST two decades
can be attributed to the groundwork laid by one person--Anne Graham, the
magazine's editor-in-chief from 1988 to 1998. Anne was the . . .
The unchecked payroll manager: an outside tip leads internal
auditors to a trail of wrongdoing and deception.(FRAUD FINDINGS)
JOSEPHINE EDWARDS WAS AN AUDIT manager at Nutronics Entertainment,
a U.S. multi-billion-dollar entertainment and media conglomerate
headquartered in New York. She was excited about her latest . . .
Reviewing external work: a chief audit executive considers how to
make a case for including outsourced operations in the annual
JAN WAS RECENTLY HIRED AS THE NEW chief audit executive at the
Doless Manufacturing Corp. (DMC), a producer of oil-drilling equipment.
One of his first priorities was to update the audit universe . . .
Waging war on corruption: Vance Jochim, former chief auditor for
the Iraq Commission on Public Integrity, wants more accountabil
VANCE JOCHIM HAD BEEN TO WAR BEFORE. As a young man, he served in
military intelligence in Vietnam. So when the U.S. government came
calling and asked him to work as an internal auditor in Baghdad . . .
The outsiders: although staff and clients may be skeptical, chief
audit executives from other disciplines are leading their depa
IT'S AN INCREASINGLY FAMILIAR SCENARIO: THERE'S AN
OPENING AT THE TOP OF AN INTERNAL AUDIT DEPARTMENT, and the new chief
audit executive (CAE) will be expected to lead the function in a . . .
The multi generational workforce: audit departments can leverage
the varied talents of different age segments in today's workpla
TODAY'S WORKPLACES HAVE BECOME GENERATIONAL MELTING POTS.
Trends such as delayed retirements, second careers, and increased
longevity mean that the age spectrum of workers is wider now than . . .
Engineering value into enterprise risk management; Six Sigma
techniques can improve the quality of ERM processes and enable
orga
ORGANIZATIONS SHOULD NOT ONLY RECOGNIZE AND MINIMIZE TRADITIONAL
DOWNSIDE RISKS, but also embrace upside risks, or opportunities, as a
strategy for success. According to a 2005 survey by . . .
A barometer for stormy times: employers are shifting their focus
from auditor retention to economic concerns, according to the 2
LIKE MANY OTHER PROFESSIONALS, INTERNAL AUDITORS have enjoyed
greater job opportunities and increased salaries over the past decade as
the economy prospered. This growth was further fueled by the . . .
10 steps to section 404 efficiency: several key points provide
guidance for auditing the organization's Sarbanes-Oxley program a
DESPITE SIGNIFICANT IMPROVEMENTS since the U.S. Sarbanes-Oxley Act
of 2002 became effective, the continuing cost of compliance with the
act's Section 404 requirements remains a concern for board . . .
Getting up to speed with IFRS: as U.S. companies accelerate
toward International Financial Reporting Standards conversion, inter
IN A SPEECH HE GAVE TO AN AUDIENCE OF SENIOR FINANCIAL executives
this June, John White, director of the Corporate Finance Division at the
U.S. Securities and Exchange Commission (SEC), said it was . . .
At the root of risk: an effective risk-based audit must consider
the most critical source of problems: people.(GOVERNANCE
PERSPE
ONE OF THE HARDEST TASKS FOR EVEN the most experienced internal
auditor is defining the most effective and efficient scope of work for a
risk-based assurance project. Because resources are always . . .
The science behind wireless: Understanding how mobile access
works can help internal auditors enhance their organization's
secur
WHILE IT MAY BE DIFFICULT TO IMAGINE a world without Blackberries,
iPhones, or the latest Bluetooth device, many IT departments are still
playing catch-up in terms of security policies surrounding . . .
Two sides of auditing: Despite their obvious similarities,
internal auditing and external auditing have an array of differences
INTERNAL AUDITORS AND EXTERNAL auditors each play an important role
in the governance of an organization. Both groups have mutual interests
regarding the effectiveness of internal financial . . .
Analytic tools increase GRC insight.(UPDATE)
ORGANIZATIONS WITH THE BEST - PERFORMING GOVER-nance, risk, and
control (GRC) initiatives that incorporate analytic tools increase their
access to the company's risk status by 25 percent, according . . .
Guide focuses on transfer pricing.(Regulatory Notes)
TAX AUTHORITIES WORLD-wide are stepping up enforcement of
transfer-pricing regulations and making inter-company transactions an
audit target, a KPMG publication reports. The publication, A Meeting . . .
U.S. firms report fewer material weaknesses.(Regulatory
Notes)
THERE WAS A STEEP DECL-ine in large U.S. publicly listed companies
disclosing material weaknesses in financial reports last year, according
to an analysis published by Compliance Week. Among the . . .
IAASB plans focus on market performance.(UPDATE)
THE INTERNATIONAL AUDITING AND ASSURANCE STAN-dards Board (IAASB)
plans to develop standards over the next three years focusing on capital
market performance and small- and medium-sized . . .
Data volume swamps organizations.(UPDATE)
ORGANIZATIONS ARE SO OVERWHELMED BY THE STAGgering amount of
information they have stored that they may not be able to produce it in
legal cases, according to a Deloitte study. Of 520 executives . . .
ERM is the top concern of CFOs and audit
committees.(UPDATE)
MORE THAN 65 PERCENT OF CHIEF FINANCIAL OFFIcers (CFOs) and 70
percent of audit committee members cite managing enterprise risk as
their organization's biggest challenge over the next 12 . . .
SEC advisers recommend financial reporting
reforms.(UPDATE)
A U.S. SECURITIES AND EXCHANGE COMMISSION (SEC) advisory committee
has issued recommendations to improve financial reporting for investors.
The final report of the Advisory Committee on . . .
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