April 2020

April 27, 2020

​Fraud Report Affirms Internal Audit’s Value at Critical Time

Each year, the Association of Certified Fraud Examiners (ACFE) publishes a Report to the Nations, which shares results of its annual Global Fraud Survey. The findings reflect the significant role that internal audit plays, and the value it adds, in detecting and deterring fraud. Indeed, internal audit consistently ranks second only to whistleblower tips as the most effective way to uncover wrongdoing.

This year’s report is no different, except in one very important way: Its message about internal audit’s value is needed now more than ever.

In addition to its deeply serious health implications, COVID-19 is part of any and every discussion about business and society.…

April 20, 2020

​COVID-19 Quick Poll: Internal Auditors Cope With Threats While Embracing Opportunities

During the COVID-19 pandemic, The IIA is focusing much of its efforts on providing practitioners information they need to not just survive, but to thrive in this crisis. Our consistent message to members, and indeed anyone associated with our important profession, is bringing internal audit’s value to bear in helping organizations to navigate this crisis.

COVID-19 Impact on Internal Audit, the latest CAE Quick Poll by the Audit Executive Center, provides evidence that many are doing just that. Based on responses from more than 400 North American chief audit executives (CAEs) and directors in a survey conducted April 9–13, the poll found that internal audit functions were actively involved in their organizations’ response to COVID-19.…

April 13, 2020

COVID-19 Is No Black Swan — It’s in Technicolor

At first glance, the coronavirus pandemic threatening populations around the world appears to fit the textbook definition of a “black swan” event. But looks can be deceiving.

The term black swan describes an event that can’t be foreseen but can have serious consequences. Europeans couldn’t imagine an actual black swan until they first arrived in Australia and New Zealand, where black swans are quite common. The term has been used with increasing regularity over the years — sometimes appropriately and sometimes not. Some are referring to this year’s coronavirus outbreak, and the COVID-19 disease it spawned, as a black swan. However, pandemics are hardly unforeseeable or unimaginable.…

April 6, 2020

Are You Sheltering at Home in Color?

It is hard to believe how much has changed in just a few short weeks. The way we work, play, and live our lives has been radically transformed in the blink of an eye. Some are suggesting that life as we knew it may never be the same again. If you are like me, “sheltering at home” has forced a radical change in routine. No longer do we rise in the morning, shower, dress, and commute to work. No longer is our day filled with the hustle and bustle of face-to-face meetings, conversations at the water cooler, and working lunches. Instead, we live, work, and play mostly in the confines of our homes.…