internal audit

The IIA is Updating their Standards, Again?

As most card-carrying members of the IIA know, the IIA updates its Standards on the average of about every 3 years. Why? Because many of the power brokers of the IIA want to ensure the Standards are in tune with changes in the regulatory environment and, in general, to continue to advance the profession of internal auditing. While the rationale …

security risk

Foreign Hackers Have Access to Power Grid

Back several months ago I posted my thoughts on the Global Megatrends in Cybersecurity 2015 survey which in short found that 78% of the 1,000 respondents say their organization’s board hasn’t been briefed about its cybersecurity strategy within the past year, while two-thirds say top executives haven’t made information security a priority. While 78% is alarming, it is not, unfortunately, …

Cyber Disconnect

78% of the 1,000 respondents to the Global Megatrends in Cybersecurity 2015 survey say their organization’s board hasn’t been briefed about its cybersecurity strategy within the past year, while two-thirds say top executives haven’t made information security a priority. What? How in the world can over 75% of these organizations represented in the survey allow their boards to continue to …

Restatements Fall on Improved Internal Controls

As reported by the CFO Journal of The Wall Street Journal on November 4th, 2014, Restatements Fall on Improved Internal Controls as companies and their auditors appear to have a better handle on how to avoid major restatements. Some snippets from the article follow. “Still, almost 1 in 4 restatements this year came with the warning that prior financial statements …

IIA Back to Basics – Analytics Refresher?

In the October issue of the Internal Auditor magazine in the Back to Basics section an article was written called “Analytics Refresher“. The authors state “internal audit can be a catalyst for expanding the use of analytics through the company to provide greater, more holistic business insights”. Very True. But the very last paragraph of the article states “Internal auditors …

Wearable banking will be a thing, one day – today’s normal once seemed unthinkable

Very interesting article on “technology wearables”. As with any new technology, the coolness factor is obvious, but will the functionality and security provided combined with the extreme fickleness of the consumer actually turn into true acceptance of such “”technology wearables” as a sustainable category? Only time will tell. But with Apple and other big players such as Accenture pushing the …