April 2012

April 16, 2012

Six Common Mistakes That Will Derail an Internal Audit

Over time, internal auditors tend to hear about a lot of things that went wrong. Unfortunately, it’s not just our clients who make mistakes — I have witnessed more than a few spectacular internal audit failures, and in too many cases the internal audits went wrong for reasons that easily could have been prevented during engagement planning. Some of the biggest blunders often seem to stem from the same few mistakes. In the hope that we can learn from each other’s mistakes, I have listed below my take on the most common of these missteps.       

  1.  Not setting aside enough time to adequately plan the audit.
April 12, 2012

It’s Internal Audit White Paper Season – And They Are Packed With Great Information!

It’s that time of year again — the time of year when most of the important surveys about internal auditing seem to be published by way of white papers. Of course, I am particularly partial to the Pulse of the Profession (PDF) survey from The IIA’s Audit Executive Center, but several other new surveys also contain significant information for internal auditors. The only problem is that if you’re like most folks in internal auditing, there’s no way you can find time to read the results of every survey about the profession. To make life a little easier, I thought it would be helpful to summarize some of the key findings and common observations we’re seeing in the most recent round of surveys.…

April 3, 2012

Five Dilemmas Every Internal Auditor Will Face

As I have commented on numerous occasions, internal auditing can be a rewarding profession for those who enjoy making a difference in their organization. However, as with any profession, it is not without its challenges. New internal auditors often become frustrated when they are unable to generate an impact as quickly as they would like, or when things don’t go their way. During my career I have experienced the profession from numerous vantage points. As a young internal auditor directly out of college, I experienced the awe, excitement, and occasional frustrations that come with any new career. As I became more seasoned, the wide-eyed enthusiasm waned, but my passion for the work did not.…