KnowledgeLeader Blog

Important Roles You Need to Be Aware of During Enterprise Risk Management

Posted by Protiviti KnowledgeLeader on Thu, Mar 12, 2020 @ 03:45 PM

The chief audit executive (CAE) and internal audit can play one or more of the following roles in conjunction with the implementation of enterprise risk management (ERM) in an organization.

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Topics: Enterprise Risk Management, Internal Audit, Risk Assessment, Audit Planning, Strategic Risk

How to Identify Remarkable Value in Data Analytics for Internal Audit

Posted by Protiviti KnowledgeLeader on Tue, Mar 10, 2020 @ 08:30 AM

Internal auditors have weighed the benefits of data analytics software since the earliest versions of the technology began to surface nearly two decades ago. The conversation has continued even as the tools have grown in sophistication and become more pervasive on Windows-based systems.

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Topics: Internal Audit, Audit Planning, Audit Reporting, Data Analytics

Internal Audit: How to Guarantee an Increase in Performance

Posted by Protiviti KnowledgeLeader on Tue, Mar 10, 2020 @ 08:00 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.

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Topics: Internal Audit, Risk Assessment, Audit Committee & Board, Quality Assessment Review, Audit Planning

How to Improve Internal Audit's Capabilities and Needs

Posted by Protiviti KnowledgeLeader on Tue, Mar 10, 2020 @ 08:00 AM

Ongoing professional development is essential for today’s internal auditors, previously outlined in Protiviti’s 2013 Internal Audit Capabilities and Needs Survey. The results of the survey provide plenty of food for thought on the importance internal auditors assign to professional development in the light of a rapidly changing environment with new challenges at every turn. At the same time, internal auditors are enjoying a broader range of career paths and becoming innovative thinkers to meet the needs and challenges of a changing environment.        

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Topics: Internal Audit, IT Audit, Audit Committee & Board, Audit Planning

Important Things You Need to Know When Traveling for Audits

Posted by Protiviti KnowledgeLeader on Tue, Mar 10, 2020 @ 08:00 AM

Over time, auditors have had the good fortune to go on audit assignments and client meetings throughout the U.S. and in many countries of the world. Some trips are spectacular, landing them in the midst of great cities like New York, New Orleans and San Francisco. Others, however, put some of them in danger zones amidst civil war and natural disaster. If you’re a well-heeled auditor, you’ll appreciate the stories and advice in this blog post. If you have ever dreamed of getting that plum auditing role that includes travel, take note: it isn’t always what you imagined it to be. This blog post will help you understand the pros and cons of the traveling auditor’s life.

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Topics: Internal Audit, Cross Border & Non-US Issues, Project Management, Audit Planning

How to Effectively Conduct Self-Assessment Meetings

Posted by Protiviti KnowledgeLeader on Thu, Feb 13, 2020 @ 02:49 PM

Why are we meeting? What are the objectives of the self-assessment meeting?

Defining the meeting objectives is the most important aspect of planning a self-assessment meeting. This requires members of the audit team to meet with the auditee in advance to determine their needs and wants. For example, the auditee may ask the auditor to facilitate a self-assessment meeting at the organizational level designed to:

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Topics: Audit Planning, Self-Assessment, Performance Management/Measurement

How to Optimize Effective Audit Planning

Posted by Protiviti KnowledgeLeader on Fri, Dec 20, 2019 @ 12:40 PM

Audit planning sets the tone for the audit. If audit planning hasn't been done well, it can make the entire audit much more difficult. You should be answering four key questions during audit planning:

 

 

 

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Topics: Internal Audit, Audit Planning

What is Internal Auditing?

Posted by Protiviti KnowledgeLeader on Thu, Oct 25, 2018 @ 12:27 PM

What is internal auditing?

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Topics: Internal Audit, IT Audit, Audit Committee & Board, Audit Planning, Audit Testing

What is Strategic Forecasting?

Posted by Protiviti KnowledgeLeader on Thu, Feb 01, 2018 @ 11:27 AM

Budgeting is a systematic process for:

  • Expressing future plans in formal quantitative terms
  • Allocating resources to achieve strategic goals
  • Monitoring progress toward goals
  • Controlling spending
  • Predicting cash flow and profits
  • Serving as a vehicle for communicating plans in an orderly manner throughout the organization
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Topics: Audit Planning, Accounting/Finance, Budgeting

Internal Audit Staffing and Audit Plan Report

Posted by Sharise Cruz on Tue, Jun 02, 2015 @ 08:01 AM

Each month, we'll be giving our social media followers special access to download one of our most popular recently published tools. 

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Topics: Entity-Level Control, Audit Planning, Sarbanes-Oxley Act

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