It’s hard to find a head of audit or an audit manager who doesn’t acknowledge the need for ‘risk-based auditing.’ Thanks to the efforts of the IIA amongst others, it has well and truly hit the mainstream.
There seems to be an increasing gap between what internal auditors—and particularly Chief Audit Executives (CAEs)—say is the importance of data analytics to the future of audit and their capabilities to actually put analytics to work. Three major reports this year, from two of the Big Four and The Institute of Internal Auditors (IIA), raise some concerning issues.
In this post John Verver discusses the ACFE's Report to the Nations on Occupational Fraud—noting that employee fraud is still a major problem.
Did you know that with your ACL Analytics subscription, you already have access to Results Manager? This means you have access to some powerful functionality, including the ability to send out surveys and analyze the results. We recently added a number of questionnaire templates to make surveying even easier. See how teams from [...]
For the past decade, PwC’s annual State of the Internal Audit Profession study has proved to be a reliable barometer of the status of issues impacting auditors globally. In this post, John Verver comments on the theme of executive leadership in internal audit and the critical role of data analysis.
Will databots who will systematically replace knowledge workers in the audit, compliance, and risk management process leave the traditional internal auditor obsolete? In this post, Dan Zitting discusses the opportunity for a new breed of entrepreneurial auditor.
The Future of “Big Data” Risk Analytics and Obsolescence of the Traditional Internal Auditor | Part 1
The world of the traditional auditor has changed. In this post, Dan Zitting, chief product officer at ACL, looks at what the future holds for the audit profession and gives insight into the future of "big data" risk analytics.
How many auditors—or risk managers—consider the impact of risks that can arise from organizational use of data and analysis? In this post, John Verver discusses the IIA's Audit Executive Center's recently released 2016 North American Pulse of Internal Audit.
While auditors and those involved in risk management and compliance have their respective roles to play in addressing the risks of big data, many of the concepts of big data also provide great opportunities for transforming the way that audit, risk and compliance professionals perform their work.
High-quality audit workpapers are essential. They support clear documentation and communication, provide an audit trail for third-party reviews, and enable risk assurance over material objectives and operational processes. So why do most teams use their workpaper software as a mere repository, almost like a shared drive? Here are three ways to make workpapers harder-working right now.