Posts Tagged ‘internal audit’

Dispatches From Nashville GRC Summit

GRC

Earlier this week the Institute of Internal Auditors held its annual GRC Conference in Nashville, Tenn. Since Radical Compliance could not attend this year, we grabbed a few tweets and photos published online from attendees to catch up on what was discussed. Without further delay, read on… Our first item of note: In a sign…

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Podcast Series: Audit Transformation & Compliance

internal audit

Great news for corporate compliance and audit professionals who happen to be podcast enthusiasts: Tom Fox and I have just released a five-part series exploring the changing nature of the internal audit function, and how those changes might affect the relationship internal audit has with the compliance function and other parts of the enterprise. You…

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Audit, Compliance, and Data-Driven Behavior

internal audit

Last week I had a guest post on Navex Global’s blog exploring the future of the internal audit function, and how a more powerful internal audit function might help the ethics and compliance department in new ways. Today we have a practical example from Fidelity Investments, and the news that it has recently sacked more…

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Internal Audit Survey-Palooza

internal audit

Spring is the season for surveys about the internal audit world, so today we have three recent studies to help audit and compliance executives understand the concerns driving that particular function right now. No surprise: those concerns are data and technology, all the way down. First we have PwC’s 2018 State of Internal Audit report,…

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Guest Column: COSO at a Tipping Point?

COSO

Nearly 30 years ago as young bank auditor, I learned about a private sector initiative known as “The Committee of Sponsoring Organizations of the Treadway Commission,” or more simply, “COSO.” It was the mid-1980s. The savings & loan crisis was raging. COSO was, and continues to be, a joint effort of five private sector organizations…

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How Compliance & Audit Can Add Value

This week I’m attending SuperStrategies, a conference for corporate audit executives run by the MIS Training Institute. MISTI likes to focus on leadership strategies for corporate audit, security, and risk management leaders, with a smattering of compliance officers hanging around, too. So let’s talk about successful leadership in an audit, risk, or compliance function, since…

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Ideas on Auditing Organizational Culture

culture

This week I attended another meeting of the Chief Audit Executive Leadership Forum, where the subject was auditing organizational culture. The conversation brimmed with useful ideas on how to audit and monitor this particularly intangible thing, and we’ve seen plenty of examples this year of culture gone awry. So let’s get into it. Consider Where…

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Of SOX Controls and Earnings Reports

compliance

The data analytics gurus over at Calcbench just published some numbers that SOX compliance and SEC reporting professionals might find interesting: a study of the gap between publishing an earnings release and filing the subsequent quarterly report. Calcbench reviewed the Form 8-K earnings releases and Form 10-Q quarterly reports from 3,399 companies that filed in…

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Boring Lessons on Cybersecurity Controls

IoT

Last week the Securities and Exchange Commission dinged Morgan Stanley $1 million for poor cybersecurity controls. The case is an excellent primer on policy management, compliance, and cybersecurity risks, so let’s take a look. The case centers on Morgan Stanley Smith Barney, one of the bank’s subsidiaries; and a financial adviser there named Galen Marsh.…

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Conducting Risk Assessments in a Big Data Future

Last week I came across a gem of a post over on ACL’s in-house blog, about the future of internal audit. One of the senior executives there, Dan Zitting, was talking about the premium that recruiters now place on audit executives who understand data analytics—to the extreme that one recruiter told Zitting, “Frankly no one…

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