KnowledgeLeader Blog

Internal Audit’s Performance – Raising the Bar

Posted by Sharise Cruz on Fri, Mar 21, 2014 @ 11:04 AM

The internal audit function’s position within a company is unique. It provides its principal stakeholders (audit committee members and management) valuable and objective assurance on governance, risk management and control processes, as well as consulting services to improve operations. With this critical responsibility to fulfill, implicit in executing those duties is internal audit’s continuous improvement to its own practices.

Read More

Topics: performance management, Hot Issues, internal audit, risk assessment, Dan Swanson, audit committee & board, quality assessment review, audit planning, performance measurement

Raising the Bar: Auditing Your Enterprise Risk Management Program

Posted by Sharise Cruz on Wed, Oct 23, 2013 @ 11:36 AM
Read More

Topics: enterprise risk management, Hot Issues, internal audit, COSO, risk assessment, Dan Swanson, audit committee & board, governance risk & compliance

Combined Assurance and the "One Audit Model" at BHP Billiton

Posted by Sharise Cruz on Wed, Sep 11, 2013 @ 11:59 AM
Read More

Topics: training & development, internal audit, risk assessment, performer profiles, audit committee & board, audit planning, combined assurance, collaboration

Risk Management Beyond Borders: Protiviti's Tips for Country Risk

Posted by Sharise Cruz on Wed, Aug 14, 2013 @ 11:10 AM

Country risk comprises the various risks of investing in a foreign country that can lead to either investment impairments or reductions in returns on investment (ROI). Investment impairments may arise from confiscatory actions by a sovereign (e.g., nationalization of the business or expropriation of assets). ROI reductions may arise from discriminatory actions by a sovereign directed to the company, a targeted industry (say, energy or banking) or companies from certain countries (e.g., additional taxation, price or production controls, exchange controls, currency manipulation, expansion controls, performance requirements and other regulations). Both may arise from destructive or disruptive acts by others (e.g., violence, terrorism, war, strikes, infrastructure deficiencies, kidnappings or physical phenomena). The primary objective of managing country risk is to protect company investments in foreign markets and sustain acceptable investment returns.

Read More

Topics: Protiviti, enterprise risk management, risk assessment, Cross-border & Non-US issues, Board Perspectives, country risk, investments and foreign exchange, asset management

Audit Committee Reporting: Leading Practice Examples and Insights

Posted by Sharise Cruz on Tue, Jul 30, 2013 @ 11:48 AM

Chief audit executives and audit teams may be comfortable with the fact that their approach to audit committee reporting has followed the same unwavering path for the past decade. But are they shortchanging themselves by not communicating results as clearly and engagingly as possible?

Three Protiviti executives – David Brand, managing director, Chicago; Jason Maslan, director, Chicago internal audit practice; and Ari Sagett, director, Chicago internal audit practice – addressed the all-too-frequent issue of stale audit committee reporting by offering some eye-opening leading practice examples in a recent webcast.

“I think it’s always good for companies to push themselves and try to do different things that might be of interest to the board – all within the charter of the audit committee and the internal audit charter,” Brand said during the webcast.

Because companies differ, examples cited in this article won’t necessarily fit every organization, though they represent a treasure trove of good ideas that internal audit departments might tailor to their own situations.

TYPICAL QUARTERLY CONTENT

A dashboard report on current activities needs to tell the committee what internal audit (IA) is doing and why, changes to the annual plan (if any), current status of the audit plan, and critical findings or emerging trends.

Read More

Topics: Protiviti, internal audit, risk assessment, audit committee & board, quality assessment review, audit reporting, chief audit executives, dashboards, webinars

Sarbanes-Oxley Compliance Survey Results from Protiviti (Infographic)

Posted by Sharise Cruz on Tue, May 21, 2013 @ 03:34 PM

Read More

Topics: Protiviti, Sarbanes-Oxley, survey reports, compliance, SOX, risk assessment, risk, infographics

COSO Integrated Control Framework: Do the Changes Really Matter?

Posted by Sharise Cruz on Mon, May 06, 2013 @ 10:00 AM

In January 2013, the updated version of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Integrated Internal Control Framework (Framework) went into effect (http://www.ic.coso.org). If you’re wondering what this model is, you probably work for a privately held corporation or a non-profit, or are very new to internal audit.

Read More

Topics: Sarbanes-Oxley, Ann Butera, Hot Issues, compliance, COSO, internal controls, risk assessment, entity-level control

Risk Management and Internal Audit Get Push from New Regulations

Posted by Sharise Cruz on Wed, Apr 17, 2013 @ 09:53 AM

This week on KnowledgeLeader, we published an article from Compliance Week that delves into a hot topic for the audit industry: the evolving role of internal audit in the face of new requirements from NASDAQ and the Federal Reserve.

Read More

Topics: business planning, laws & regulations, audit team, internal audit, risk assessment, risk management, regulatory updates, SEC, regulatory compliance, Compliance Week, KnowledgeLeader articles

Board Perspectives provides 10 risk oversight questions for 2013

Posted by Dave Goff on Thu, Jan 24, 2013 @ 04:52 PM

With each new year come new risk considerations. Changing markets and circumstances spawn new risks, alter risk profiles and reduce the effectiveness of established risk management capabilities. The risk oversight agenda should take such changes into account.

Is your board risk oversight agenda appropriately focused?

Read More

Topics: risk assessment, Data Integrity Risk, risk, audit, board, risk oversight

Three Ways to Mitigate Design Risk

Posted by Protiviti KnowledgeLeader on Wed, Nov 07, 2012 @ 10:30 AM

Often, companies do not consider the risks involved with systems design. To mitigate the organizational risks of systems design, organizations should:

Read More

Topics: risk assessment, Design Risk, Systems Design

Add a Comment:

Subscribe to Our Blog

About KnowledgeLeader

KnowledgeLeader, provided by Protiviti, is the premier resource for internal audit and risk management professionals.

With over 1,400 customizable tools and 1,300 articles by industry experts, we offer the most comprehensive service on the market.

For more information:

 Start 30-day Free Trial

Recent Posts

Posts by Topic

see all