This has been a year for the record books for The Audit Report. Our library of content continues to grow on a weekly basis, with each piece of content aiming to provide answers to internal auditors that help them enable positive change within their organisations.
As is tradition, we’ve looked through our metrics to compile a list of the top ten most read articles on the site. We hope you enjoy and prepare for more to come your way in 2018! Thank you for being a subscriber to our newsletter. Should you have any feedback, please contact us!
Tony Redlinger has spent most of his career as an IT auditor for such organizations as Aegon, CoBank, and the Los Alamos National Laboratory. These days, he serves as a senior manager for internal audit at IHS Markit, a global information and analytics services provider. Tony is also a senior instructor for MISTI. As part of a special series for The Audit Report, we recently sat down with Tony to talk about the challenges of being an IT auditor, what's next for cybersecurity, integrated auditing, and more. View article here.
#4 - Spotting Potentially Fraudulent Shell Companies During Audits
Boards of directors, stockholders, management teams, and professional standards all expect internal auditors to respond to the risk of fraud in core business systems. Within a company's accounts payable file, shell companies are being used to steal millions of dollars from companies or to conceal bribery payments which violate anti-bribery and corruption laws. This article explains the methodology and experiences in detecting shell companies without a lead or clue as where to look in a company's database. View article here.
#3 - Do Millennials Really Require a Different Management Style?
Newsflash: Millennials don't stay in their jobs very long. They lack loyalty and focus. And they need oodles and oodles of positive reinforcement.
So say the several surveys and reports that portend to put their finger on the pulse of the generation born roughly between 1980 and 2000 and tell us how to relate to these skateboard-riding, texting-obsessed, criticism-adverse, video game junkies with short attention spans. They tell us to throw away the management strategies we've been honing for decades and get ready to do some coddling. Millennials are different, they say, and need a special kind of handling. View article here.
As internal auditors, we work in complex and demanding environments where business, technological, social, and other dynamics challenge us to meet the increasing expectations of the board and senior management. While many internal auditors find it difficult to keep up with the cycle of risk-and-control reviews, there is no alternative. Failure to demonstrate how we add value will eventually result in stakeholders viewing internal audit as irrelevant. The following actions are crucial to avoid this outcome. View article here.
#1 - The Problem With Most Audit Reports
How do our stakeholders on the board and in top management assess the value of internal audit? What do we give them? What do they have on which to base their assessment? While they probably rely to a great deal on their direct interaction with the chief audit executive (CAE) and perhaps some of his or her team, the primary internal audit product is the audit report. The typical audit report is boring, does not provide the reader in top management with the information they need to run the organisation, and is viewed as documentation of the work performed and results obtained. But what do you do about it? View article here.